Singapore exports beat forecasts with boost from pharmaceuticals

Singapore's non-oil domestic exports (Nodx) had a 11.8 per cent rise last month thanks to growth in the pharmaceuticals sector.
Singapore's non-oil domestic exports (Nodx) had a 11.8 per cent rise last month thanks to growth in the pharmaceuticals sector.PHOTO: ST FILE

Boosted by growth in the pharmaceuticals sector, Singapore's non-oil domestic exports (Nodx) put in a strong showing with a 11.8 per cent rise last month.

This exceeded market expectations of a 7.4 per cent rise and follows a 0.8 per cent rise in the previous month. However, economists sounded a note of caution as to how sustained the uptick would be for the typically volatile sector.

Also, electronics exports continued their decline, albeit at a slower pace. Electronics exports saw a 3.8 per cent dip last month - an improvement from the 8.6 per cent decline in the previous month.

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A version of this article appeared in the print edition of The Straits Times on August 18, 2018, with the headline 'S'pore exports beat forecasts with boost from pharmaceuticals'. Print Edition | Subscribe