Singapore Trade


Singapore: Exports rebound in August

September 17, 2014

In August, non-oil domestic exports (NODX) rose 6.0% over the same month last year, which contrasted the 3.3% decrease recorded in July and overshot the 2.5% increase the markets had expected. In addition, August’s print marked the largest increase in six months,

According to International Enterprise (IE) Singapore, exports of electronic products contracted 6.9% in August, which came in above the 7.9% decrease observed in July. In addition, non-electronic exports rose 12.1%, which contrasted the 1.1% decrease observed in the previous month.

On a month-on-month basis, exports rose a seasonally-adjusted 7.6% in August, which was above the 2.5% increase recorded in July.

FocusEconomics Consensus Forecast panelists see overall nominal exports expanding 3.8% this year, which would bring exports to a total of USD 454 billion. For next year, the panel projects exports to grow 6.4%, for a total of USD 483 billion.

Author:, Senior Economist

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Singapore Trade Chart

Singapore Trade August 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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