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Singapore's NODX drop 12% y-o-y in Oct

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Singapore's non-oil domestic exports extended their drop in October, sinking 12 per cent year-on-year after a revised 5 per cent fall in September.

SINGAPORE'S non-oil domestic exports extended their drop in October, sinking 12 per cent year-on-year after a revised 5 per cent fall in September.

Month-on-month, the NODX declined by a seasonally adjusted 3.7 per cent in October following a 2.2 per cent in rise in the previous month.

Shipments to all top 10 markets fell with the exception of Taiwan, Hong Kong and South Korea. The EU, Japan and Indonesia were the three biggest contributors to NODX's decline in October.

Non-oil re-exports sank 8.9 per cent year-on-year in October, against a 1.2 per cent increase in September.

Both the electronic and non-electronic NODX also continued to drop in October. The electronic NODX slipped 6 per cent, easing from a 6.6 per cent fall in September.

The non-electronic NODX extended a 4.2 per cent decrease in September to a 14.6 per cent plunge in October.

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