SINGAPORE: Singapore's non-oil domestic exports (NODX) fell by 17.3 per cent year-on-year in June, marking the fourth straight month of double-digit decline, data from trade agency Enterprise Singapore showed on Wednesday (Jul 17).
Both electronic and non-electronic exports declined, with shipments to the majority of top markets falling.
AdvertisementAdvertisement[h=3]READ: No quick turnaround in Singapore's exports, more downside risks in 2019 growth: Economists[/h]On a month-on-month seasonally adjusted basis, NODX declined by 7.6 per cent in June, after the previous month's 5.8 per cent increase.
Electronic exports fell 31.9 per cent year-on-year, following the 31.6 per cent decrease in the previous month.
Integrated circuits (ICs), PCs and disk media products contracted by 33 per cent, 44.6 per cent and 41.7 per cent respectively, contributing the most to the decline in electronic NODX.
AdvertisementAdvertisementNon-electronic exports declined by 12.4 per cent in June, following the 11.1 per cent decline in the previous month.
Non-monetary gold (-50.2 per cent), petrochemicals (-16.7 per cent) and pharmaceuticals (-11.3 per cent) contributed the most to the decline in non-electronic NODX.
Total trade decreased by 7.2 per cent year-on-year in June, following a 2.2 per cent decline in the previous month.
Both imports and exports declined, with imports decreasing by 4.8 per cent and exports decreasing by 9.3 per cent.
Overall, exports to the majority of Singapore's top markets decreased in June, execpt for the United States.
The largest contributors to the NODX decline were Hong Kong (-38.2 per cent), China (-15.8 per cent) and the EU 28 (-22.1 per cent).
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