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Singapore's non-oil domestic exports down 2.3% in June
SINGAPORE'S non-oil domestic exports (NODX) fell 2.3 per cent year on year in June due to a decline in both electronic and non-electronic NODX, after rising 11.6 per cent in May.
The largest contributors to the decline were China, Indonesia and the EU 28, according to the latest trade numbers released by trade promotion agency International Enterprise (IE) Singapore on Monday. Other markets where NODX contracted were Japan and Thailand.
Electronic NODX contracted 1.7 per cent year on year in June, narrowing from a 6 per cent decline in May. Meanwhile, non-electronic NODX fell 2.5 per cent last month, from an expansion of 19 per cent in May.
Month on month, NODX slumped by a seasonally adjusted 12.9 per cent in June, in sharp contrast to May which clocked growth of 16.8 per cent. This was due to a contraction in non-electronic NODX, which outweighed the growth in electronic NODX, said IE Singapore.
Non-oil re-exports rose 0.6 per cent, crossing into positive territory after a decline of 3.2 per cent in May.