2017.09.1723:56:00UTC+00Singapore NODX Grows More Than Forecast In August

Singapore's non-oil domestic exports grew at a slower-than-expected rate in August, due to the increase in both electronic and non-electronic exports, data from the International Enterprise Singapore showed Monday.

NODX surged 17.0 percent year-over-year in August, well above the 11.8 percent rise economists had expected. This was followed by a 7.6 percent growth in July.

Exports of electronic products expanded 21.7 percent annually in August, following a 15.3 percent spike in the prior month. It was forecast to increase by 15.0 percent.

The growth in electronic domestic exports was largely contributed by ICs, disk media products and parts of ICs.

Non-electronic NODX climbed 15.0 percent yearly in August, much faster than the 4.4 percent increase in July.

On a monthly basis, NODX rose a seasonally adjusted 4.5 percent from July, when it fell by 3.3 percent.