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Decline in Singapore exports slows

SINGAPORE — The Republic’s non-oil domestic exports (NODX) continued to decline in July, due to a contraction in the electronics sector.

Decline in Singapore exports slows

Photo: Bloomberg

SINGAPORE — The Republic’s non-oil domestic exports (NODX) continued to decline in July, due to a contraction in the electronics sector. Trade agency International Enterprises Singapore said today (Aug 16) that exports eased by 0.7 per cent last month from a year ago, following the 8.9 per cent decrease in the previous month. On a month-on-month basis, exports edged down by 1.1 per cent in July, compared to the previous month’s 3.3 per cent expansion. Exports to all of the top 10 markets — except the United States, Hong Kong, China and Japan — declined in July. The top three contributors to the export contraction were the European Union, South Korea and Taiwan. CHANNEL NEWSASIA

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