Singapore: Exports fall in July as top export markets deteriorate
August 17, 2015
In July, non-oil domestic exports (NODX) fell 0.8% over the same month last year, which contrasted the 4.5% increase tallied in June and marked a five-month low. The result was less than the 2.1% decline that the markets had expected.
July’s increase reflected deteriorations in half of the top ten export markets, including China, the Eurozone and the United States. According to International Enterprise (IE) Singapore, July’s fall reflected poorer performance in both non-electronics and electronics exports. Exports of non-electronic products in July fell 2.1%, which contrasted the 3.3% expansion tallied in the previous month. Meanwhile, electronics grew 2.3%, which was below the 7.6% expansion recorded in June.
On a month-on-month seasonally-adjusted basis, exports increased 2.4% in July, which contrasted June’s 2.7% decrease.
Author: Eric Denis , Economist