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Singapore: Greater than estimated export growth in June

Singapore’s exports (excluding oil) rose faster than expected in June, driven by growth in electronic and non-electronic shipments, as well as strong expansion in exports to the US, China, Malaysia and Japan.

Non-oil exports from the trading hub of SE Asia rose 9% in June compared to the corresponding period of the previous year.

The increase was more than average estimates for 8%. In May, domestic non-oil exports rose 12% from a year earlier.

On a month-on-month basis, Singapore’s exports (excluding oil) in June rose 3.7% in seasonally adjusted terms, following a 2.8% rise in the previous month.

Electronics exports in June rose 4.1 percent from a year earlier, less than a 12.9 percent increase the previous month.

Exports excluding electronics rose 10.6% compared to an 11.7% increase in the previous month.

Source: Capital

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