SINGAPORE: Singapore's non-oil domestic exports declined by 8.1 per cent in September, marking the seventh straight month of year-on-year decline.
This follows a revised 9 per cent decline in August, trade agency Enterprise Singapore said in a media release on Thursday (Oct 17).
AdvertisementAdvertisementOn a seasonally adjusted basis, exports dropped 3.3 per cent month-on-month in September following August's increase of 6.7 per cent.
[h=3]READ: Singapore economy grows 0.1% in Q3, avoids technical recession[/h]Electronic exports fell 24.8 per cent year-on-year in September, on the back of the 25.9 per cent contraction in the previous month.
Integrated circuits, PCs and disk media products contracted by 30.2 per cent, 33.1 per cent and 12.2 per cent respectively, contributing the most to the decline in electronic shipments.
AdvertisementAdvertisementNon-electronic exports declined by 2.3 per cent in September year-on-year. The previous month registered a similar decline.
Pharmaceuticals (-26.7 per cent), petrochemicals (-10.6 per cent) and jewellery (-52.0 per cent) contributed the most to the decline in non-electronic exports.
[h=3]READ: MAS reduces pace of appreciation for Singdollar 'slightly' amid slow growth[/h][h=3]READ: The S$NEER and its slope, width and centre: Questions about Singapore’s monetary policy[/h] Total trade decreased by 4.9 per cent year-on-year in September following an 8.6 per cent decline in August.
Overall, Singapore's exports to most of its top markets dropped in September. The largest contributors to the decline were the EU (-17.3 per cent), the US (-10.9 per cent) and Japan (-19.2 per cent).
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