Skip to Content

Thursday, December 12th, 2019

Singapore's external trade falls 12 pct in Oct year-on-year

Closed
by November 17, 2016 General

SINGAPORE, Nov. 17 (Xinhua) — Singapore’s non-oil domestic exports (NODX), a key gauge of the export performance of the small and highly open economy, declined 12 percent in October year-on-year, said International Enterprise (IE) Singapore on Thursday.

Following the 5 percent decrease in the previous month, the contraction in October was due to the decrease in both electronic and non-electronic NODX, according to IE Singapore.

On a month-on-month seasonally adjusted basis, NODX decreased by 3.7 percent in October, in contrast to the 2.2 percent increase in the previous month, said IE Singapore. The decrease was due to decline in both electronic and non-electronic NODX.

The trade promotion agency said that electronic NODX contracted by 6 percent in October year-on-year, following the 6.6 percent decline in the previous month. The decrease in electronic domestic exports was largely due to ICs, disk drives and telecommunications equipment.

While non-electronic NODX contracted by 14.6 percent in October year-on-year, after the 4.2 percent decline in the previous month. The decrease in non-electronic NODX was led by pharmaceuticals, petrochemicals and civil engineering equipment parts.

IE Singapore said NODX to the majority of the top 10 markets, except China’s Taiwan, China’s Hong Kong and South Korea, contracted in October on a year-on-year basis. The largest contributors to the decline in NODX were the EU 28, Japan and Indonesia.

Non-oil Re-exports (NORX) declined by 8.9 percent in October year-on-year, compared to the 1.2 percent growth in the previous month, due to a contraction in both electronic and non-electronic NORX, said IE Singapore.

On a year-on-year basis, electronic NORX contracted by 12.7 percent in October, following the 4.4 percent decrease in the previous month. The decline in electronic NORX was due to ICs, telecommunications equipment and diodes and transistors.

Non-electronic NORX non-electronic NORX decreased by 4.3 percent in October year-on-year, in contrast to the 7.6 percent increase in the previous month. The decline in non-electronic NORX was due to nickel, civil engineering equipment parts and jewelry.

Previous
Next