Singapore's external trade up 4.7% in June

Singapore's non-oil domestic exports (NODX), a key gauge of the export performance of the small and highly open economy, rose by 4.7 percent in June on year, trade promotion agency International Enterprise Singapore said on Thursday.

The gain was in contrast to the 0.3 percent decline in the previous month, and mainly driven by expansion in both electronic and non-electronic NODX, the agency said.

On a yearly basis, electronic exports grew by 7.6 percent in June, after the 2.5 percent decline in the previous month. The increase was largely due to parts of PCs, ICs and telecommunications equipment.

Non-electronic exports expanded by 3.6 percent on-year in June, following the 0.6 percent rise in the previous month, led by electrical machinery, printed matter and non-electric engines & motors.

NODX to all of the top 10 NODX markets, except Indonesia, Malaysia and China's Taiwan, rose in June. The top contributors were the United States, Chinese mainland and Thailand.

NODX to the Chinese mainland rose by 12.2 percent in June on year, in contrast to the 4.3 percent contraction in the preceding month, due to electrical machinery, specialised machinery and heating & cooling equipment.

On a month-on-month seasonally adjusted basis, NODX decreased by 2.4 percent in June, following the previous month's 3.3 percent contraction.