Singapore exports rose for the 10th straight month in September, beating private-sector analysts' expectations to expand by 12.3 per cent year on year. Non-oil domestic exports (NODX) growth picked up from the 2.7 per cent expansion in August and also came in ahead of the estimate of 8.7 per cent in a Bloomberg poll, data from government agency Enterprise Singapore (ESG) showed on Monday (Oct 18). The trade sector was buoyed by segments such as petrochemicals, specialised machinery and pharmaceuticals, though linchpin electronics exports grew as well.
Electronics NODX rose by 14.4 per cent, against 16.7 per cent in August, with a boost from integrated circuits (ICs), personal computers, and telecom equipment. The growth was "driven primarily by ICs amid robust global semiconductor demand", ESG said. Meanwhile, non-electronics shipments expanded by 11.7 per cent, reversing a dip of 1.4 per cent in August. The growth was led by petrochemicals and pharmaceuticals, which both rebounded from earlier low bases, as well as increased shipments of specialised machinery NODX, which ESG said was "in line with robust global semiconductor demand".