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Financial News: Singapore Exports Decline Less Than Expected

Singapore Exports Decline Less Than Expected

09/17/2019 - 00:34:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports declined at a slower than expected pace in August, data from Enterprise Singapore revealed on Tuesday.

NODX declined 8.9 percent year-on-year in August, after a 11.4 percent fall in July. Economists had expected a 10.6 percent fall.

Exports of electronic goods decreased by 25.9 percent annually in August, following the 24.2 percent decrease in the previous month.

Non-electronic NODX fell by 2.2 percent in August, after a 6.7 percent contraction in the preceding month.

Exports to the top ten markets declined in July, except to the China. The annual fall was led by Hong Kong, Malaysia and US.

On a monthly basis, NODX rose 6.7 percent in August, after a 3.5 percent increase in the preceding month.

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