NODX contraction eases in September with 1.2% dip
Shipments to US, China recovered strongly; electronics still weak
[SINGAPORE] Non-oil domestic exports (NODX) fell year-on-year for an eighth consecutive month in September, though the contraction was narrower than market forecasts, as higher non-electronic exports such as ships and petrochemicals helped offset weaker electronics ones.
Latest trade figures released by trade promotion agency IE Singapore yesterday revealed that NODX eased from a 6.8 per cent year-on-year decline in August to a 1.2 per cent dip last month. Expectations were for a 2.8 per cent drop, leading at least one economist to see NODX picking up gradually.
"NODX remains weak, but the contraction has eased," observed Chua Hak Bin of Bank of America Merrill Lynch.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
ARA H-Trust to sell 2 Hyatt House hotels for US$31 million
Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture
Aims Apac Reit posts 10.2% lower H2 DPU on enlarged unit base
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income