SINGAPORE: Singapore's non-oil domestic exports (NODX) fell in December last year, continuing the previous month's fall, with shipments to most of its top markets declining.
Exports fell 8.5 per cent year-on-year in December following the 2.8 per cent decline in November, data from trade agency Enterprise Singapore showed on Thursday (Jan 17).
AdvertisementOn a seasonally adjusted month-on-month basis, exports fell by 5.7 per cent in December, following the previous month's 4.3 per cent decline.
December saw a decline in both electronic and non-electronic exports.
Electronic exports declined by 11.2 per cent year-on-year, after a 4.3 per cent growth the previous month.
PCs, disk media products and diodes & transistors contracted by 20.5 per cent, 28.5 per cent and 34.4 per cent respectively, contributing the most to the decline in electronic NODX.
AdvertisementAdvertisementNon-electronic exports declined by 7.4 per cent year-on-year in December, following a 5.4 per cent decrease in the previous month.
Specialised machinery (-32.5 per cent), pharmaceuticals (-26.8 per cent) and primary chemicals (-28.0 per cent) contributed the most to this decline.
Overall, exports to the majority of Singapore's top 10 markets declined in December, except to the United States and China. The largest contributors to the NODX decrease were the EU (-28.7 per cent), South Korea (-39.1 per cent) and Malaysia (-15.5 per cent).
Meanwhile, total trade in December rose 1.6 per cent year-on-year, supported by import growth.
Let's block ads! (Why?)
More...