Singapore’s exports contract 7.2% in December
Non-electronic exports slumped 10.3 per cent while electronic exports declined 0.3 per cent, according to IE Singapore.
SINGAPORE: Non-oil domestic exports (NODX) in Singapore slumped further last month, hurt by a sharp decline in non-electronic exports, International Enterprise (IE) Singapore said on Monday (Jan 18).
On a year-on-year basis, NODX fell 7.2 per cent in December, after registering a 3.4 per cent decrease the previous month, according to the agency, which drives Singapore’s external trade.
Exports of electronic products fell 0.3 per cent in December, in contrast to the 0.6 per cent growth in November. The contraction was mainly due to ICs (-11.3 per cent), parts of PCs (-13 per cent) and disk drives (-22 per cent), IE Singapore said.
Non-electronic exports declined by 10.3 per cent, following the 5.1 per cent decline in the previous month. The decrease was led by petrochemicals (-17.5 per cent), primary chemicals (-41.8 per cent) and civil engineering equipment parts (-43.5 per cent).
Exports to all of the top 10 markets – except the US, Japan and Hong Kong – fell in December. The top contributors to the decline were China, South Korea and Taiwan.
Non-oil re-exports (NORX) expanded by 0.8 per cent, following the 1.6 per cent growth in the previous month, due to an increase in non-electronic re-exports which outweighed the decline in electronic re-exports.
SINGAPORE: Non-oil domestic exports (NODX) in Singapore slumped further last month, hurt by a sharp decline in non-electronic exports, International Enterprise (IE) Singapore said on Monday (Jan 18).
On a year-on-year basis, NODX fell 7.2 per cent in December, after registering a 3.4 per cent decrease the previous month, according to the agency, which drives Singapore’s external trade.
Exports of electronic products fell 0.3 per cent in December, in contrast to the 0.6 per cent growth in November. The contraction was mainly due to ICs (-11.3 per cent), parts of PCs (-13 per cent) and disk drives (-22 per cent), IE Singapore said.
Non-electronic exports declined by 10.3 per cent, following the 5.1 per cent decline in the previous month. The decrease was led by petrochemicals (-17.5 per cent), primary chemicals (-41.8 per cent) and civil engineering equipment parts (-43.5 per cent).
Exports to all of the top 10 markets – except the US, Japan and Hong Kong – fell in December. The top contributors to the decline were China, South Korea and Taiwan.
Non-oil re-exports (NORX) expanded by 0.8 per cent, following the 1.6 per cent growth in the previous month, due to an increase in non-electronic re-exports which outweighed the decline in electronic re-exports.
Singapore’s exports contract 7.2% in December
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