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Singapore Trade September 2023

Singapore: Non-oil domestic exports drop at a more moderate rate in September

Non-oil domestic exports (NODX) plummeted 13.2% over the same month last year in September, following August’s 22.5% dive. September’s outturn marked the most moderate decline since April 2023. The fall stemmed from reductions in both electronics and non-electronics exports. With regards to export destinations, NODX to Indonesia, Malaysia and Taiwan declined, outweighing stronger shipments to China, Hong Kong and the U.S. In seasonally adjusted month-on-month terms, NODX exports rose 11.1% in September, following August’s 6.6% decrease.

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