In October, non-oil domestic exports (NODX) posted a sharp decline of 16.2% over the same month last year. The figure came in below the 4.6% contraction tallied in September (previously reported: -4.5% year-on-year) and market expectations that had NODX falling 7.8%. The contraction was mainly driven by a significant drop in the export of electronic products, although non-electronic product exports also declined. On a geographical basis, exports to the United States and Europe were the main drag on exports, as they contracted 50.6% (September: -35.5% yoy) and 30.9% (September: +5.0% yoy) respectively. In addition, exports to China moderated from a 4.0% expansion in September to a 3.1% increase in October. A month-on-month comparison corroborates the deterioration suggested by the annual figures, as exports contracted 5.9% in seasonally adjusted terms, which came in on top of the 9.3% decline observed in September (previously reported: +3.5% month-on-month).
Singapore Trade Balance
Exports plummet in October
November 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.