Singapore’s non-oil domestic exports (NODX) reached 13.2 billion SGD in November, down 8.8 percent year-on-year or 9.3 percent month-on-month.
Trade promotion agency International Enterprise (IE) Singapore, in its December 17 report, attributed the sharp decline to both electronic and non-electronic exports. Electronic NODX fell 8.9 percent in November compared to the month before, while non-electronic NODX was down 8.8 percent.
Non-oil domestic exports to all top 10 NODX markets, except China , US and Taiwan , fell in the month. Exports to the US rose 10.3 percent year-on-year after falling 15.5 percent in October. Exports to China , the biggest buyer of goods made in Singapore , grew 16.2 percent - somewhat slower than the previous month's 21.8 percent increase.
Shipments to the European Union fell 26.6 percent in November, compared to a 12.3 percent decline in the previous month.
However, Song Seng Wun, CIMB's regional economist, predicted a 4-5 percent growth in NODX for 2014, after 4-5 percent decline this year.-VNA
Trade promotion agency International Enterprise (IE) Singapore, in its December 17 report, attributed the sharp decline to both electronic and non-electronic exports. Electronic NODX fell 8.9 percent in November compared to the month before, while non-electronic NODX was down 8.8 percent.
Non-oil domestic exports to all top 10 NODX markets, except China , US and Taiwan , fell in the month. Exports to the US rose 10.3 percent year-on-year after falling 15.5 percent in October. Exports to China , the biggest buyer of goods made in Singapore , grew 16.2 percent - somewhat slower than the previous month's 21.8 percent increase.
Shipments to the European Union fell 26.6 percent in November, compared to a 12.3 percent decline in the previous month.
However, Song Seng Wun, CIMB's regional economist, predicted a 4-5 percent growth in NODX for 2014, after 4-5 percent decline this year.-VNA
