SINGAPORE’S June non-oil domestic exports jumped 16.1% from a year ago, beating forecasts, official data showed today, helped by shipments of pharmaceuticals, specialised machinery and electronics.
That was reversal of a revised 4.6% decline in May, and higher than the 6.2% increase forecast by economists in a Reuters poll.
The figure was also boosted by a low base comparison from the year earlier.
On a seasonally adjusted month-on-month basis, exports rose 0.5% in June after a revised 4.6% fall in the previous month, Enterprise Singapore said in a statement.
Economists had forecast a 2.2% contraction.
Shipments of non-monetary gold also bolstered June’s rebound, up 238.0% from a year earlier.
The city-state is a big regional player in the gold trade, and exports can be affected by sharp swings in value. – July 17, 2020, Reuters
