Singapore's NODX up 0.9% in Sept
SINGAPORE'S key non-oil domestic exports (NODX) continued to expand year-on-year in September but at a slower pace.
The NODX rose just 0.9 per cent after a 6.0 per cent jump in August, still wrapping up the third quarter with an overall positive upturn.
But the NODX was down sharply by a seasonally-adjusted 8.8 per cent month on month in September, reversing the previous month's 7.6 per cent rise, according to the latest trade figures released on Friday morning by International Enterprise Singapore.
The electronic NODX continued to drop year on year, posting a 4.0 per cent decline. It fell 6.9 per cent in August. But non-electronic NODX was up 3.0 per cent in September, though easing from a 12.1 per cent jump the month before.
Shipments to all top 10 markets except Hong Kong, Japan, the European Union and Indonesia, increased last month. The top three contributors to rise were China, Taiwan and Malaysia.
Non-oil re-exports grew 4.3 per cent after a 5.6 per cent fall in August.
Read what economists have to say: Quick takes: Singapore Sept NODX is weaker than expected
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
Singapore’s employment growth eases in Q1, as tighter foreign worker quotas kick in for construction firms
US-Singapore FTA marks 20 years: a bridge ‘at the right place, right time’
Daily Debrief: What Happened Today (Apr 30)
Biden’s ‘worker-centred trade policy’ involves building ‘tripartism’: US trade chief
Daily Debrief: What Happened Today (Apr 29)
NTUC to help workers develop skills, adapt to new job opportunities