Singapore key exports up 10.7%, driven by electronics

Integrated circuits and disk media products both grew faster year on year in August

- Chor Khieng Yuit

Singapore's key exports grew for a second straight month in August, with non-oil domestic exports (Nodx) rising 10.7 per cent year on year.

The growth compares with a Bloomberg consensus forecast of a 15 per cent increase, and extends the 15.7 per cent expansion in July.

The gains were mainly driven by electronics even though non-electronics also increased, Enterprise Singapore (EnterpriseSG) noted in its Sept 17 statement.

Year on year, electronics exports surged 35.1 per cent in August, extending the 16.8 per cent expansion in July.

Integrated circuits (ICs), disk media products and personal computers (PCs) contributed the most to the gains in electronics Nodx.

Shipments of ICs, also referred to as chips or semiconductors, jumped 52 per cent, while disk media products grew 166.8 per ICS, which make up about half of Singapore's electronics exports, and disk media products both grew faster year on year in August than in July, EnterpriseSG added.