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Singapore's exports down 11.2% in July

Singapore's exports down 11.2% in July

A container ship in Singapore waters. (File photo: AFP/Roslan Rahman)

SINGAPORE: Singapore's non-oil domestic exports (NODX) fell by 11.2 per cent in July, according to data released by trade agency Enterprise Singapore on Friday (Aug 16). 

This marks the fifth straight month of year-on-year decline following last month's 17.4 per cent decline. 

On a seasonally adjusted basis, exports rose 3.7 per cent month-on-month in July, following June's decline of 7.8 per cent. 

Electronic exports fell 24.2 per cent year-on-year in July, on the back of the 31.9 per cent contraction in the previous month.

Integrated circuits, PCs and disk media products contracted by 24.2 per cent, 35.5 per cent and 25.3 per cent respectively, contributing the most to the decline in electronic NODX.

Non-electronic exports declined by 6.6 per cent in July year-on-year, after the 12.6 per cent decline in the previous month. 

Pharmaceuticals (-32.7 per cent), specialised machinery (-31.3 per cent) and primary chemicals (-30.9 per cent) contributed the most to the decline in non-electronic NODX. 

Total trade decreased by 6 per cent year-on-year in July, following the 7.3 per cent decline in the preceding month. 

Overall, exports to the majority of the top markets dropped in July, except to the US, said the release. 

The largest contributors to the decline were Japan (-44.2 per cent), Malaysia (-23.3 per cent) and Hong Kong (-21.7 per cent). 

Source: CNA/ad(rw)


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