In February, non-oil domestic exports (NODX) rose 9.1% over the same month last year, which contrasted the 3.3% fall recorded in January and overshot the 7.6% increase that markets had expected. February's increase represents the fastest growth in two years. According to International Enterprise (IE) Singapore, the improvement was broad-based. Exports of electronic products contracted 3.7% in February, which was an improvement over the 17.0% decrease observed in January. In addition, non-electronic exports accelerated from a 3.5% increase in January to a 15.4% rise in February. On a monthly basis, exports rose a seasonally-adjusted 7.2%, which contrasted the 5.0% drop recorded in January. FocusEconomics Consensus Forecast panelists see overall nominal exports expanding 1.4% this year, which would bring exports to a total of USD 442 billion. For next year, the panel projects exports to grow 8.2%, for a total of USD 478 billion.
Singapore Trade Balance
Exports rebound in February, reaching fastest growth in two years
March 17, 2014
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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.