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Singapore's non-oil domestic exports growth flat in August
SINGAPORE'S non-oil domestic exports (NODX) growth in August was flat after a 10.6 per cent year-on-year drop in July, according to the latest trade figures released by International Enterprise Singapore on Friday.
Measured against the previous month, the NODX slipped by a seasonally adjusted 1.9 per cent in August, the same as in July.
Except for the European Union, China, Japan and Indonesia, domestic shipments to the rest of the top 10 markets rose year on year last month. Taiwan, Hong Kong and the United States were the biggest contributors to the increase. NODX to Taiwan jumped 22.2 per cent, Hong Kong 10.6 per cent and the US 4.8 per cent.
Electronic NODX continued to fall in August, down 6 per cent against a 12.9 per cent decline in July. But non-electronic NODX was up 2.7 per cent following a 9.5 per cent shrinkage in the month before.
Total trade also increased 0.6 per cent last month after an 11.4 per cent plunge in July. Total exports rose 2.3 per cent, against a 10.6 per cent decline in the previous month. The drop in oil domestic shipments eased from 29.1 per cent to 8 per cent.