In July, non-oil domestic exports (NODX) fell 2.8% over the same month last year to USD 14.4 billion, which marked the largest drop since October 2009. The decline contrasted with both the 1.0% rise recorded in June and market expectations of a 4.6% expansion. A month-on-month comparison corroborates the deterioration suggested by the annual figures as exports fell 2.3% in seasonally-adjusted terms, following the 4.1% contraction in June. The drop reflected a decline in exports of non-electronic products which more than offset the expansion in electronic products. Against this backdrop, on 10 August, the government trimmed its 2011 export growth forecast to 6%-7% from 8%-10%.
Singapore Trade Balance
Exports drop in July
August 17, 2011
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Singapore Economic News
October 24, 2016
In September, consumer prices stayed flat compared to the previous month, following the 0.5% increase recorded in August.
October 17, 2016
In September, non-oil domestic exports (NODX) dropped 4.8% from the same month last year, deteriorating from August’s flat result.
October 14, 2016
According to advanced estimates released by the Ministry of Trade and Industry on 14 October, GDP declined a sharp 4.1% in Q3 from the previous quarter at a seasonally adjusted annualized rate (SAAR), down from Q2’s revised 0.2% rise (previously reported: +0.3% quarter-on-quarter).
October 14, 2016
At its second scheduled semi-annual meeting of 2016, which took place on 14 October, the Monetary Authority of Singapore (MAS) decided to leave the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged at zero percent.
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September.