SINGAPORE: The non-oil domestic exports (NODX) in Singapore declined by 20.2 per cent year-on-year, marking a contraction for the 10th straight month, government agency Enterprise Singapore announced Thursday, Xinhua reported.
The figure extended the 15.6-per cent decline in the previous month, Enterprise Singapore noted, adding that NODX in July fell 3.4 per cent month-on-month, reversing the 5.2-per cent rise in June.
In July, the electronic export contracted by 26.1 per cent and non-electronic export declined by 18.5 per cent. Both worsened from the previous month, according to the government agency.
Though NODX to the United States rose, export to Singapore’s major markets shrank in July.
Shipment to China fell 20.1 per cent year-on-year, due to weaker exports of integrated circuits, pharmaceuticals and petrochemicals.
NODX to the European Union members plunged 38.6 per cent due to a fall in pharmaceuticals, primary chemicals and specialised machinery, the agency noted.
Singapore on last Friday downgraded its GDP growth forecast to 0.5-1.5 per cent from the earlier range of 0.5-2.5 per cent due to sluggish demand from major trading partners. -Bernama
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