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Singapore's non-oil domestic exports down 8.4% in Aug

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The Ministry of Trade and Industry (MTI) of Singapore has announced on Wednesday its decision to extend the block exemption order (BEO) for liner shipping agreements (LSAs) for another five years until Dec 31, 2020.

SINGAPORE'S non-oil domestic exports (NODX) continued to be in negative territory in the third quarter, falling 8.4 per cent year-on-year in August - after an adjusted 0.7 per cent dip in July.

This time round both the electronic and non-electronic NODX declined - the former by 2.7 per cent and the latter by 10.6 per cent. The electronic NODX managed a 2.5 per cent jump in July, while the non-electronic NODX dropped 2 per cent.

The NODX also slipped month-on-month in August, tumbling by a seasonally adjusted 4.6 per cent. It increased 2.5 per cent in July.

Except for the US, Thailand and Hong Kong, shipments to all the top 10 NODX markets fell last month.

Non-oil re-exports, which rose 4.5 per cent year-on-year in July, grew by a smaller 2.6 per cent in August. Both the electronic and non-electronic NORX were up last month, by 3.6 and 1.6 per cent respectively.

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