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Financial News: Singapore Exports Growth Slows On Weak Electronics Shipmen

Singapore Exports Growth Slows On Weak Electronics Shipment

09/17/2018 - 00:57:00 (RTTNews)

(RTTNews) - Singapore's exports growth halved in August as demand for electronics goods declined again, data from Enterprise Singapore showed Monday.

Non-oil domestic exports grew 5 percent annually in August, following the 11 percent increase seen in July.

Exports of electronic products slid 1.5 percent but smaller than the 5.8 percent fall logged in the previous month. At the same time, growth in non-electronic products exports eased to 7.8 percent from 18.6 percent a month ago.

Data showed that NODX to the majority of the top 10 markets expanded in August, driven mainly by the US, the EU 28 and Indonesia.

Month-on-month, NODX rose 0.4 percent in August after the previous month's 3.6 percent increase, due to the growth in electronic NODX which outweighed the decrease in non-electronics.

Non-oil re-exports climbed 14.1 percent annually in August, faster than the 8.4 percent rise in July as both electronics and non-electronics NORX increased.

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