Financial News: Singapore Non-Oil Domestic Exports Decline In February

Singapore Non-Oil Domestic Exports Decline In February

03/17/2023 - 02:11:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports registered a double-digit contraction in February, data from Enterprise Singapore showed Friday.

Non-oil domestic exports plunged 15.6 percent on a yearly basis but slower than the 25.0 percent decline in the previous month.

Both electronics and non-electronics declined in February. Electronics exports plunged 26.5 percent and non-electronics shipments slid 12.1 percent.

On a monthly basis, NODX fell 8.0 percent after the previous month's 0.9 percent growth as demand for both electronic and non-electronic goods weakened in February.

Further, data showed that NODX to the top 10 markets as a whole declined in February, mainly due weak demand from the EU 27, Hong Kong and Taiwan. However, NODX to the US, Japan and Thailand increased.

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