June had seen Singapore s non-oil domestic products advancing 16.1% from a year earlier. The reading managed to place above estimates backed by strong activity in shipments of pharmaceuticals, specialized machinery, and electronics, official data showed on Friday.
The country s exports recovered from a revised 4.6% contraction seen in May. The figure placed higher than the 6.2% increase expected by economic analysts in a Reuters survey. In addition to this, the figure was also supported by a low base comparison from a year ago.
On a seasonally adjusted month-on-month basis, exports advanced 0.5% in June. This followed after a revised 4.6% decline monitored in May, Enterprise Singapore said in a statement.
Moreover, shipments of non-monetary gold supported June s rebound, recording a total of 238.0% increase from a year earlier.
https://www.umarkets.com/en/news/singapore-exports-surpass-estimates-advance-16-1-percent-in-june