NODX down 8.9% in Aug, boosted by gold exports
Economists had expected a 10.6% fall; they are divided whether Singapore will dodge technical recession in Q3
Singapore
SINGAPORE'S non-oil domestic exports (NODX) fell 8.9 per cent year on year in August, performing better than economists' expectations of a 10.6 per cent fall and breaking a five-month streak of double-digit declines, according to Enterprise Singapore figures on Tuesday.
But with the improvement "inflated by a surge in gold exports to China", as Maybank Kim Eng economists Chua Hak Bin and Lee Ju Ye put it, economists are divided on whether Singapore will dodge a technical recession - two straight quarters of sequential decline - in the third quarter.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Court grants Iswaran’s application for single trial for charges related to Ong Beng Seng, David Lum
Trade between Singapore and Asean was at S$295.6 billion in 2023
AI lacks judgement to set interest rates, MAS chief says
Iras to claw back S$60 million from buyers who used ‘99-to-1’ loophole to avoid ABSD
Daily Debrief: What Happened Today (May 7)
Daily Debrief: What Happened Today (May 8)