Singapore’s non oil exports beat expectations hinh anh 1Non-oil domestic exports (NODX) in Singapore in October jumped by 20.9 percent year-on-year (Photo: AFP)

Singapore (VNA) – Non-oil domestic exports (NODX) in Singapore in October jumped by 20.9 percent year-on-year, according to the International Enterprise (IE) Singapore on November 17.

The increase, which was due to an increase in electronic export, which contributes one fifth of Singapore’s GDP, reversed the 1.1 percent dip in September.

Electronic shipments expanded 4.5 percent in October, following an 8.0 percent decline in September. The increase was largely due to disk media products, ICs and computer parts, which grew by 28.8 percent, 15.4 percent and 13.0 percent, respectively.

Meanwhile, non-electronic shipments in Singapore rose 28.5 percent, following a 1.9 percent increase in the previous month. Non-monetary gold and pharmaceuticals increased by 591.5 percent and 25.1 percent respectively, contributing most to the increase.

Exports to all of Singapore's top 10 markets, except Taiwan, Hong Kong (China) and Indonesia, grew last month, IE Singapore said. Shipments to China, Singapore's biggest export market, expanded by 53.3 percent, while exports to the European Union and Malaysia also increased by 26.1 percent and 22 percent, respectively.

According to IE, non-oil re-exports of the Southeast Asian country declined by 0.9 percent year-on-year, following a 0.6 percent growth in September due to the lower shipment of non-electronic re-exports.-VNA