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Financial News: Singapore Non-Oil Domestic Exports Slide In September

Singapore Non-Oil Domestic Exports Slide In September

10/15/2020 - 20:50:00 (RTTNews)

(RTTNews) - Non-oil domestic exports (NODX) in Singapore tumbled a seasonally adjusted 11.3 percent on month in September, Enterprise Singapore said on Friday - missing expectations for a decline of 3.0 percent following the 10.5 percent increase in August.

On a yearly basis, non-oil exports were up 5.9 percent - again missing expectations for 10.8 percent and down from 7.7 percent in the previous month.

Growth was mainly driven by electronics from the low base a year ago, while non-electronics also grew. NODX to the top 10 markets as a whole grew in September, though exports to Hong Kong, Indonesia, Thailand and South Korea declined.

Overall exports added 0.1 percent on month and fell 1.9 percent on year, while total imports gained 4.8 percent on month and lost 1.6 percent on year.

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