In December, non-oil domestic exports (NODX) expanded 9.0% over the same month the year before, which came in above the revised 1.4% increase tallied in November (previously reported: +1.6% year-on-year). The strong reading marked, in fact, the fastest pace since January 2011 and contrasted market expectations that had exports contracting 1.2%. The improvement was entirely driven by stronger exports of non-electronic products, which picked up from a 2.2% increase in November to 16.7% in December amid strong pharmaceutical sales. In contrast, electronic exports contracted 4.6% (November: +0.1% yoy). A month-on-month comparison corroborates the improvement suggested by the annual figures, as exports expanded a robust seasonally adjusted 16.4%, which is well above the 5.8% increase recorded in November.
Singapore Trade Balance
December exports jump on pharmaceutical sector
January 17, 2011
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Singapore Economic News
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.
September 23, 2016
In August, consumer prices increased 0.5% compared to the previous month, contrasting the 0.3% decrease recorded in July.