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Singapore June y/y exports growth surpasses expectation, courtesy continued growth in electronics shipments

Singapore’s non-oil domestic exports grew faster-than-expected in June from a year earlier, thanks to continued growth in electronics shipments as well as a rebound in non-electronic products. Exports grew 8.2 percent from June last year, data from trade agency International Enterprise Singapore showed on Monday, beating a Reuters poll that predicted a 4.1 percent expansion.Export figures in May were upwardly revised, growing 0.4 percent on a year-on-year basis compared with the 1.2 percent contraction previously recorded. In April, exports contracted a revised 0.3 percent from the year before.“It’s attributable to a high base last year. If you look at electronics, it’s still in positive territory,” said OCBC Bank analyst Selena Ling. “We’re still on track. Hopefully we won’t see a big drop off come second half of the year.”

News Source:- http://www.financialexpress.com/economy/singapore-june-yy-exports-growth-surpasses-expectation-courtesy-continued-growth-in-electronics-shipments/766076/