Singapore’s exports drop 12% in October, petchems down 7%

According to the data released by International Enterprise (IE) Singapore, exports from the country decreased by 12% in October when compared to the previous month. This drop followed a 5% drop in September.

Electronic shipments were down 6% on a monthly basis, which followed the decline of 6.6% of the previous month.

Non-electronic exports posted a sharp monthly decline of 14.6% in October following a decline of 4.2% in September. IE Singapore’s data shows that this decrease was mainly led by the drop in pharmaceuticals by 47% and in civil engineering equipment parts by 40.7% while the drop in petrochemical exports was relatively smaller at 7% in October.