Singapore's non-oil domestic exports (NODX) rose 7.6 percent in the third quarter, helped by growth in electronic and non-electronic exports.
Electronic NODX grew for the fourth straight quarter while non-electronics resumed growth, according to the latest quarterly data released by the International Enterprise (IE) Singapore.
Domestic exports of electronic products rose at a slower pace in the third quarter, growing 8.9 percent compared to the 13.7 percent surge in the second quarter.
Integrated circuits remained a key driver for electronic exports, growing 20.8 percent in the third quarter, albeit at a slower clip than the 26 percent pace in the preceding three months.
IE Singapore now expects NODX to expand by 6.5 percent to 7.0 percent in 2017, up from a forecast of 5 percent to 6 percent provided in August.
If the forecast comes true, NODX will grow in 2017 at a faster rate than in at least seven years. Between 2011 and 2016, the fastest growth in NODX was 2.2 per cent, in 2011, according to data from the Department of Statistics.
Singapore's total merchandise trade increased by 11.7 per cent in the third quarter, extending the 9.5 percent growth in the previous quarter, as both oil and non-oil trade grew, Ministry of Trade and Industry said.
Oil trade increased by 22.1 per cent in 3Q 2017 amid higher oil prices than a year ago, compared to the 27.7 per cent growth in the preceding quarter. Non-oil trade rose by 9.6 per cent in 3Q 2017, following the previous quarter's 5.9 per cent increase.
