Singapore’s exports (NODX) surge 22.2% in October, driven by gold & stronger region demand

Singapore’s non-oil domestic exports (NODX) surged 22.2% in October from a year earlier, far exceeding expectations (7.5%) and marking a sharp acceleration from September’s revised 7.0% rise, according to data from Enterprise Singapore.

• outperformance was driven primarily by a jump in non-monetary gold shipments
• electronic products also posting solid gains.

The strength was broad-based across several Asian markets.

• Exports to Taiwan, Thailand and Hong Kong rose strongly, reflecting a pickup in regional trade flows.
• Shipments to the United States, however, fell compared with a year earlier, tempering the overall export picture.

This article was written by Eamonn Sheridan at investinglive.com.