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Singapore’s exports continue to fall in May

by ChemOrbis Editorial Team -
  • 19/06/2017 (16:14)
According to data released by International Enterprise (IE) Singapore, the country’s non-oil domestic exports (NODX) decreased for the second successive month by 1.2% in May on a yearly basis following a drop of 0.8% in the previous month due to a fall in non-electronic exports. Analysts were calling for a decrease of 3.7%.

On monthly basis, however, the country’s non-oil exports were up by 8.1% after a decrease of 9% in April due to an increase in both electronic and non-electronic exports. The data showed that the country’s electronic exports rose further by 23.3% in May on the year after a more modest rise of 4.8% in April. However, this increase was pulled down by a significant decrease of 9% in exports of non-electronic products in May after a fall of 2.9% in the previous month.

Singapore’s exports to China and South Korea posted sharp increases of 36.4% and 64.3% respectively on a monthly basis, the data revealed.
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