ASEAN KEY DESTINATIONS
Singapore’s exports drop 0.2% year-on-year in May
SINGAPORE: Non-oil domestic exports (NODX) in Singapore fell 0.2 per cent on-year in May, due to an decrease in electronic exports, according to statistics released on Friday (Jan 16) by International Enterprise (IE) Singapore.
The fall in exports comes after a 2.2 per cent expansion in the previous month.
Electronic exports fell 2.5 per cent on-year, following the 4.0 per cent decline in the previous month. The decrese was largely due to parts of ICs (-69.6 per cent), parts of PCs (-26.4 per cent) and disk drives (-29.0 per cent), IE Singapore said.
Non-electronic exports expanded by 0.8 per cent, following the 4.7 per cent rise in the previous month. The incerase was led by non-electric engines & motors (+460.3 per cent), other specialty chemicals (+32.2 per cent), and heating & cooling equipment (+169.5 per cent).
On a year-on-year basis, NODX to all of the top 10 markets – except US, South Korea, Thailand and Hong Kong - fell last month. The top three contributors to the decline were Indonesia, the EU 28 and China, according to the agency, which drives Singapore's external trade.
Non-oil re-exports (NORX) declined by 2.7 per cent on-year in May, after the 2.1 per cent contraction in the previous month, due to a decrease in both electronic and non-electronic re-exports.
Electronic re-exports fell by 1.8 per cent, following the 2.3 per cent decline in the previous month, IE Singapore said. The contraction was due to ICs (-2.2 per cent), parts of ICs (-44.5 per cent) and consumer electronics (-27.2 per cent).
Non-electronic NORX decreased by 3.7 per cent, after the 1.8 per cent decline in the previous month. The contraction was due to piston engines (-48.3 per cent), petrochemicals (-23.1 per cent) and tin (-49.4 per cent).
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