Singapore’s non-oil domestic exports (NODX) rose by 4.9% year-on-year in February, following a sharp drop of 10.1% in the previous month, according to International Enterprise Singapore.

A corner of Singapore (Source: internet)

On a seasonally adjusted basis, exports expanded by 16% over the month, after January’s 5.7% decline, due to strong growth in non-electronic exports.

Non-electronic products grew by 9.4% year-on-year in February, after a 7.9% January decline.

February’s exports to the country’s 10 leading markets saw growth, excluding Japan, the Republic of Korea, the European Union and Indonesia.

The largest contributors to the NODX growth were China (34.4%), Hong Kong (41.9%) and the US (6.6%).

(Source: VNA)