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Non-oil domestic exports makes surprising rebound in June

Amala Balakrishner
Amala Balakrishner7/17/2020 10:11 AM GMT+08  • 3 min read
Non-oil domestic exports makes surprising rebound in June
SINGAPORE (July 17): Defying expectations of a slowdown from the Covid-19 outbreak, Singapore’s non-oil domestic exports (NODX) reversed out of the red in June thanks to a low base from the year before.
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SINGAPORE (July 17): Defying expectations of a slowdown from the Covid-19 outbreak, Singapore’s non-oil domestic exports (NODX) reversed out of the red in June thanks to a low base from the year before.

Official figures released by trade agency Enterprise Singapore (ESG) on Friday showed a 16.1% year-on-year expansion in June, compared to the surprise 4.6% slowdown logged in May.

June’s showing resoundingly surpassed the 8% growth estimated by private-sector economists in a Bloomberg poll.

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