In February, non-oil domestic exports (NODX) surged 30.5% over the same month last year. The figure contrasted the 2.4% contraction observed in the previous month and marked the fastest growth rate since October 2010. The strong expansion nearly doubled market expectations, which had NODX increasing 16.2%, as analysts expected exports to recover following disruptions from the Chinese New Year holiday. The improvement was broad-based, as both exports of electronic products and non-electronic products expanded at a faster pace compared to January. That said, according to International Enterprise Singapore (IE), non-electronic exports led the increase by surging 34%, beating electronic exports which rose 23%. A month-on-month comparison corroborates the acceleration suggested by the annual figures, as exports grew a robust seasonally adjusted 6.2%, which is well above the 0.5% increase seen in January.
Singapore Trade Balance
Exports surge in February
March 16, 2012
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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.