Singapore Trade


Singapore: Exports contract in October

November 17, 2014

In October, non-oil domestic exports (NODX) decreased 1.5% over the same month last year. The print contrasted the 0.9% expansion recorded in September, but was slightly up from the 1.6% decline that markets had expected.

The result reflected a decrease in both electronic and non-electronic exports. According to International Enterprise (IE) Singapore, non-electronic exports contracted 0.5% in October, which contrasted the 3.0% expansion tallied in September. Meanwhile, exports of electronic products fell 3.6%, which was slightly up from September’s 4.0% decline.

A month-on-month comparison, however, showed that exports increased a seasonally-adjusted 1.1% in October and contrasted the 8.8% decline tallied in September.

FocusEconomics Consensus Forecast panelists see overall nominal exports expanding 2.0% this year, which would bring exports to a total of USD 446 billion. For next year, the panel projects exports to grow 4.6%, for a total of USD 466 billion.

Author:, Economist

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Singapore Trade Chart

Singapore Trade October 2014 0

Note: Year-on-year and seasonally-adjusted month-on-month variation of non-oil domestic exports in %.
Source: Statistics Singapore (Singstat) and FocusEconomics calculations.

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