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Singapore exports set to slow further in Q4, may even contract: economists

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Sharon See

Sharon See

Published Mon, Oct 17, 2022 · 06:28 PM
    • Exports to Singapore’s top 10 markets fell as a whole in September, dragged by a 33.8 per cent year-on-year contraction in shipments to China, compared with the previous month’s 18.2 per cent decline.
    • Exports to Singapore’s top 10 markets fell as a whole in September, dragged by a 33.8 per cent year-on-year contraction in shipments to China, compared with the previous month’s 18.2 per cent decline. PHOTO: AFP

    THE outlook for Singapore’s key exports turned a shade gloomier on Monday (Oct 17), with fresh data from Enterprise Singapore (EnterpriseSG) revealing further drag from China’s slowdown alongside the global electronics downturn.

    Non-oil domestic exports (NODX) in September grew just 3.1 per cent year on year, easing from an expansion of 11.4 per cent in the previous month, according to EnterpriseSG.

    This was lower than the 6.9 per cent growth that private-sector economists had pencilled in, based on a Bloomberg poll.

    Singapore economySingapore NodxTradeSingapore electronicsElectronicsChina

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