Singapore's exports rebound 6% in August over previous year

Exports from Singapore jumped last month, rebounding from a decline in previous months and beating forecasts. -- PHOTO: ST FILE
Exports from Singapore jumped last month, rebounding from a decline in previous months and beating forecasts. -- PHOTO: ST FILE

SINGAPORE - Exports from Singapore jumped last month, rebounding from a decline in previous months and beating forecasts.

Non-oil domestic exports rose 6 per cent in August over a year ago, after dropping 3.3 per cent in July, trade agency IE Singapore said on Wednesday.

This surpassed economists' expectations of a 2.6 per cent rise, according to a poll by Reuters.

Singapore's shipments were boosted by an increase in non-electronic shipments, which expanded 12.1 per cent amid a surge in the exports of ship and boat structures, petrochemicals and pharmaceuticals.

Electronic exports continued to be sluggish, falling 6.9 per cent in August from the previous year. Personal computer parts, integrated circuits and disk drives remained the biggest drags in this segment.

Compared with July, non-oil domestic exports rose 7.6 per cent in August.