In May, non-oil domestic exports (NODX) increased 3.2% over the same month last year, which came in above the revised 1.7% increase recorded in April (previously reported: +8.3% year-on-year). The figure, however, fell short of market expectations, which had exports increasing 5.0%. According to International Enterprise Singapore (IE), the recovery was buttressed by stronger growth in both electronic and non-electronic exports. Electronic exports grew 3.9% in May, up from the 1.0% increase in April, while non-electronic exports added 2.8% (April: +2.1% year-on-year). A month-on-month comparison, however, does not corroborate the improvement suggested by the annual figures, as exports decreased a seasonally adjusted 2.1% in May, which contrasted the 6.4% rise seen in April.
Singapore Trade Balance
Export growth inches up in May
June 21, 2012
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Singapore Trade Balance Chart
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.