Singapore’s exports down 8.4% on year in August
On a monthly basis, meanwhile, the country’s NODX posted a seasonally adjusted decrease of 4.6% in august to reach SGD13.3 billion ($9.5 billion) from July’s SGD14 billion ($10 billion).
Singapore’s electronic domestic exports fell 2.7% on the year while non-electronics exports slid 10.6% due to lower exports for petrochemicals, pharmaceuticals and structures of ships and boats.
Meanwhile, the data also showed that the country’s domestic oil exports slumped 37.9% compared with the previous year because of lower shipments to Indonesia, Malaysia and Panama. However, the volume of domestic oil exports rose by 0.5% in August.
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