Singapore: Exports improve in June
July 17, 2014
In June, non-oil domestic exports (NODX) fell 4.6% over the same month last year, which followed the 6.6% decrease recorded in May and came in below the 2.7% decrease that the markets had expected.
According to International Enterprise (IE) Singapore, exports of electronic products contracted 17.4% in June, which marked a deterioration over the 15.3% decrease observed in May. In addition, non-electronic exports rose 1.3%, which contrasted the 2.4% decline observed in the previous month.
On a month-on-month basis, exports rose a seasonally-adjusted 1.5% in June, which contrasted the 7.5% decrease recorded in May.
Author: Dirina Mançellari, Senior Economist