Dimmer prospects ahead for Singapore exports as July data reveals drag from China slowdown

SINGAPORE’S key exports could cool in the coming months, amid weaker demand from China and dimmer prospects for electronic exports, economists have said.

Non-oil domestic exports (NODX) to China contracted sharply by 21.3 per cent year on year in July, compared with a modest growth of 2.1 per cent in the previous month, according to data from Enterprise Singapore (EnterpriseSG) on Wednesday (Aug 17).

Key exports to Japan in July also shrank for the first time this year by 15.3 per cent, a marked reversal from the 18.6 per cent growth clocked in the month before.