Singapore’s non-oil exports surged dramatically in July 2024, marking a significant turnaround from the previous month. According to data updated on August 16, 2024, the non-oil export indicator stopped at 12.20% for July, an impressive leap from the -0.40% recorded in June 2024.This month-over-month comparison tells a compelling story. In June, the indicator showed a contraction of -0.40%, reflecting a period of decline. However, July saw a remarkable recovery as the indicator climbed to 12.20%, indicative of robust growth in Singapore’s non-oil export sector.The updated data brings a positive outlook for Singapore’s trade dynamics, suggesting that the nation is recovering strongly in its export markets despite the recent setbacks. Economists and market analysts will be watching closely to see if this growth trajectory continues in the coming months.The material has been provided by InstaForex Company – www.instaforex.com
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