SINGAPORE: Exports in Singapore fell 10.6 per cent last month, after a 2.4 per cent drop in June.
Non-oil domestic exports (NODX) were hit by a decline in both electronic and non-electronic exports, according to latest figures released by International Enterprise (IE) Singapore on Wednesday (Aug 17).
Exports to all of Singapore’s top 10 markets – except the EU 28 – fell, with China, the US and Indonesia leading the decline. Exports to China – Singapore’s largest export market – remained weak, contracting 16.6 per cent after a 9.9 per cent decline in June and a 10.1 per cent fall in May.
Overall, exports of electronic products fell 12.9 per cent in June, following the 1.7 per cent contraction in the previous month. The decrease was largely due to PCs (-36.0 per cent), parts of ICs (-46.3 per cent) and diodes & transistors (-19.5 per cent).
Non-electronic exports shrank 9.5 per cent, after the 2.6 per cent contraction in June. The decrease was led by petrochemicals (-35.0 per cent), civil engineering equipment parts (-58.3 per cent) and specialised machinery (-16.7 per cent).
Non-oil re-exports (NORX) declined 1.2 per cent, in contrast to the 0.4 per cent increase in the previous month, due to an decrease in electronic re-exports which outweighed the rise in non-electronic re-exports.
Electronic re-exports contracted by 5.9 per cent, after declining 0.7 per cent in June. In contrast, re-exports of non-electronic products rose 4.1 per cent, following a 1.6 per cent increase in the previous month.
