Singapore’s exports fall 4.8% in September
Singapore’s electronic exports was down 6.6% on the month in September after a 6% drop in August while non-electronic exports fell 4% on a monthly basis in September following an increase of 2.7% the previous month. This was caused by a drop in structures of ships and boats, civil engineering equipment parts and petrochemicals.
Singapore’s exports to Hong Kong, the European Union and South Korea grew between 9.9% and 23.8% while exports to seven of the country’s top ten markets, including Malaysia, Indonesia and the US decreased in September.
After posting an 8.5% increase in August, non-oil re-exports (NORX) were up by 1.2% on a monthly basis in September due to the rise in non-electronic re-exports, according to IE.
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