This in turn provided a lift to Singapore’s electronic NODX to Taiwan (+37.6% year-on-year), South Korea (+34.8% year-on-year) and the US (+28.2% year-on-year), say Chia and Lim.
With a growth of 7.7% year-on-year in August, Singapore’s non-oil domestic exports (NODX) has come in better than expectations, say CGS-CIMB Research analysts Michelle Chia and Lim Yee Ping who had predicted a 3.4% year-on-year increase in the metric.
A major lift came from the recovery in the electronics sector which grew by 5.7% in August, widening from the 2.8% increase staged in July.
