Singapore's non-oil domestic exports
The fall compared with a Reuters poll forecast for an annual rise of 1 per cent, and followed a revised fall of 4.7 per cent in July.
Electronic product exports declined by 6.5 per cent from a high base in 2024, said Enterprise Singapore (EnterpriseSG) on Wednesday (Sep 17).
This followed a 2.7 per cent increase in July.
Disk media products, integrated circuits and personal computer parts fell by 28.1 per cent, 7.4 per cent and 36.9 per cent, respectively, contributing the most to the drop, it said in a media release.
Non-electronic product exports declined by 13 per cent, after falling by 6.7 per cent in July.
Specialised machinery, food preparations and petrochemicals were the biggest contributors to the drop, decreasing by 29.1 per cent, 51.4 per cent and 23.2 per cent respectively.
Non-oil exports to Indonesia, the United States and China declined in August, but rose to the European Union, Taiwan and South Korea.
Despite having a free-trade agreement and running a trade deficit with the US, Singapore faces a 10 per cent tariff rate from Washington.
Singapore's exports to the US dropped by an annual 28.8 per cent in August, following a 42.8 per cent fall in July.
Non-oil re-exports rose by 12.3 per cent in August, extending the 22 per cent expansion in July, with both electronics and non-electronic products growing.
Electronic non-oil re-exports grew by 21.8 per cent year-on-year, after increasing by 28.9 per cent in the previous month. EnterpriseSG attributed the growth to increases in personal computers, integrated circuits and telecommunications equipment.
Non-electronic re-exports rose by 1.4 per cent, moderating from the 13.7 per cent increase last month.
Specialised machinery, non-electronic engines and motors, as well as pharmaceuticals, were responsible for this growth, said EnterpriseSG.
Singapore’s exports and imports rose in August, with total trade increasing by 3 per cent, said EnterpriseSG. This was down from July’s 8.2 per cent growth.
While Singapore’s economy performed better than expected in the first half of the year due to export and production front-loading to beat the US tariffs, authorities have warned that growth is likely to slow in the second half.
Enterprise SG has forecast non-oil exports growth of 1 per cent to 3 per cent this year, saying last month it expected some weakness in the second half of 2025.
Continue reading...
The fall compared with a Reuters poll forecast for an annual rise of 1 per cent, and followed a revised fall of 4.7 per cent in July.
Electronic product exports declined by 6.5 per cent from a high base in 2024, said Enterprise Singapore (EnterpriseSG) on Wednesday (Sep 17).
This followed a 2.7 per cent increase in July.
Disk media products, integrated circuits and personal computer parts fell by 28.1 per cent, 7.4 per cent and 36.9 per cent, respectively, contributing the most to the drop, it said in a media release.
Non-electronic product exports declined by 13 per cent, after falling by 6.7 per cent in July.
Specialised machinery, food preparations and petrochemicals were the biggest contributors to the drop, decreasing by 29.1 per cent, 51.4 per cent and 23.2 per cent respectively.
Non-oil exports to Indonesia, the United States and China declined in August, but rose to the European Union, Taiwan and South Korea.
Despite having a free-trade agreement and running a trade deficit with the US, Singapore faces a 10 per cent tariff rate from Washington.
Singapore's exports to the US dropped by an annual 28.8 per cent in August, following a 42.8 per cent fall in July.
Non-oil re-exports rose by 12.3 per cent in August, extending the 22 per cent expansion in July, with both electronics and non-electronic products growing.
Electronic non-oil re-exports grew by 21.8 per cent year-on-year, after increasing by 28.9 per cent in the previous month. EnterpriseSG attributed the growth to increases in personal computers, integrated circuits and telecommunications equipment.
Non-electronic re-exports rose by 1.4 per cent, moderating from the 13.7 per cent increase last month.
Specialised machinery, non-electronic engines and motors, as well as pharmaceuticals, were responsible for this growth, said EnterpriseSG.
Singapore’s exports and imports rose in August, with total trade increasing by 3 per cent, said EnterpriseSG. This was down from July’s 8.2 per cent growth.
While Singapore’s economy performed better than expected in the first half of the year due to export and production front-loading to beat the US tariffs, authorities have warned that growth is likely to slow in the second half.
Enterprise SG has forecast non-oil exports growth of 1 per cent to 3 per cent this year, saying last month it expected some weakness in the second half of 2025.
Continue reading...