Singapore’s exports down in July, retails sales up in June
Singapore’s electronic exports increased 2.3% on the year following a 7.6% gain in June. The increase was attributed to a rise in PC, telecommunications equipment and diodes and transistor exports. Non-electronic exports, however, fell by 2.1% following a 3.3% increase in the previous month. The decrease was attributed to a decline in exports of structures for ships and boats, printed matter as well as primary chemicals.
Singapore’s retail sales, meanwhile, rose 6.9% on a yearly basis in June. The increase in retail sales was attributed to a jump in sales of motor vehicles, which posted an increase of 85.2% on the year in June. Retail sales posted a smaller increase of 0.6% compared with the previous month in June. The country’s total retail sales value reached $3.5 billion in June, up from $3.3 billion a year earlier.
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