Singapore’s October exports rise 22.2%, much stronger than forecast

Electronic NODX expanded by 33.2 per cent in October, extending the 30.4 per cent rise in the previous month. 

Integrated circuits, personal computers and disk media products contributed the most to electronic NODX, expanding 40.9 per cent, 77.7 per cent and 31.4 per cent respectively.

Meanwhile, non-electronic NODX expanded by 18.8 per cent in October, following a 0.5 per cent increase in the previous month.

The growth was driven by non-monetary gold, specialised machinery and pharmaceuticals, expanding by 176.8 per cent, 16.1 per cent and 25.2 per cent respectively, said EnterpriseSG.

Among key markets, exports to Taiwan, Thailand and Hong Kong rose strongly, while shipments to the US were lower than a year earlier.

NODX to Taiwan expanded by 61.5 per cent in October, extending the 31.9 per cent rise in the preceding month, said EnterpriseSG.

Meanwhile, NODX to Thailand and Hong Kong rose 91.1 per cent and 66.6 per cent, respectively. 

On a year-on-year basis, total trade expanded by 23.2 per cent in October, extending the 14.6 per cent rise in the preceding month.