In March, non-oil domestic exports (NODX) decreased 4.3% over the same month last year. The figure contrasted a robust 30.4% expansion in February (previously reported: +30.5% year-on-year), which was boosted by distortions generated by the Chinese New Year holiday. The reading, however, undershot market expectations, which had NODX expanding 7.1%. According to International Enterprise Singapore (IE), non-electronic exports led the decline by contracting 7.8% over the same month last year, which contrasted the 34% increase recorded in February. The reading mainly reflected a 99% drop in exports of structures of ships and boat. Meanwhile, electronic exports grew 2.8% (February: +23% year-on-year). A month-on-month comparison corroborates the sharp decline suggested by the annual figures, as exports plunged a seasonally adjusted 16.8% in March, which contrasted the 7.2% increase seen in February.
Singapore Trade Balance
Exports decline in March
April 17, 2012
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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.