SINGAPORE (Reuters)

Singapore’s non-oil domestic exports rose 15.7% in July from a year earlier, as reported on Friday. Both electronics and non-electronics exports saw growth.

This increase surpassed a Reuters poll forecast of a 1.2% rise in shipments and followed a revised 8.8% contraction in June.

On a month-on-month seasonally adjusted basis, non-oil domestic exports increased by 12.2% in July, outperforming the expected 2.2% rise from the Reuters poll.

Enterprise Singapore reported that non-oil exports to Malaysia surged 49.1% year-on-year, driven by strong demand for computer peripherals, integrated circuits, and non-monetary gold.

Exports to the United States increased by 28.9%, while shipments to China rose 21.1%. Conversely, non-oil exports to the European Union, Japan, Hong Kong, and South Korea experienced declines.