SINGAPORE: Singapore's non-oil domestic exports (NODX) contracted for the 11th consecutive month in August, falling by 20.1 per cent, with both electronics and non-electronics seeing a decline.
The drop follows a 20.3 per cent decrease in July and a 15.7 per cent contraction in June.
According to data released by Enterprise Singapore (EnterpriseSG) on Monday (Sep 18), electronic product exports contracted by 21.1 per cent in August, following a 26.1 per cent decline in the previous month.
Integrated circuits (ICs), disk media products and PCs contributed the most to the decline, falling by 28.5 per cent, 30.6 per cent and 25.6 per cent respectively.
Non-electronic exports declined by 19.9 per cent in August, extending an 18.5 per cent drop in July.
The biggest declines were in structures of ships and boats, pharmaceuticals, and specialised machinery, falling by 97.7 per cent, 37.7 per cent and 25.5 per cent respectively.
NODX to the top markets as a whole declined in August, although NODX to Indonesia rose, said EnterpriseSG.
The largest contributors to the decline in NODX were key markets the US (-32.4 per cent), the EU (-28.9 per cent) and China (-16.4 per cent).
On a year-on-year basis, total trade declined by 15.2 per cent in August, following the 20.9 per cent contraction in the previous month.
Both exports and imports fell, by 14.7 per cent and 15.6 per cent respectively.
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The drop follows a 20.3 per cent decrease in July and a 15.7 per cent contraction in June.
According to data released by Enterprise Singapore (EnterpriseSG) on Monday (Sep 18), electronic product exports contracted by 21.1 per cent in August, following a 26.1 per cent decline in the previous month.
Integrated circuits (ICs), disk media products and PCs contributed the most to the decline, falling by 28.5 per cent, 30.6 per cent and 25.6 per cent respectively.
Non-electronic exports declined by 19.9 per cent in August, extending an 18.5 per cent drop in July.
The biggest declines were in structures of ships and boats, pharmaceuticals, and specialised machinery, falling by 97.7 per cent, 37.7 per cent and 25.5 per cent respectively.
NODX to the top markets as a whole declined in August, although NODX to Indonesia rose, said EnterpriseSG.
The largest contributors to the decline in NODX were key markets the US (-32.4 per cent), the EU (-28.9 per cent) and China (-16.4 per cent).
On a year-on-year basis, total trade declined by 15.2 per cent in August, following the 20.9 per cent contraction in the previous month.
Both exports and imports fell, by 14.7 per cent and 15.6 per cent respectively.
Continue reading...