Sun, 01 Oct 2023

Singapore's key exports continue to shrink

18 Sep 2023, 19:30 GMT+10

SINGAPORE, Sept. 18 (Xinhua) -- The non-oil domestic exports (NODX) in Singapore declined by 20.1 percent year on year, marking a contraction for the 11th straight month, government agency Enterprise Singapore announced Monday.

In August, non-electronic exports of the city-state declined by 19.9 percent year on year, which worsened from the previous month, while electronic exports fell by 21.1 percent, a smaller contraction than the 26.1 percent recorded in the previous month.

Though NODX to Indonesia rose, exports to Singapore's other major markets shrank last month. Shipment to the United States fell 32.4 percent year on year, after the 34.3-percent expansion in the preceding month, becoming the largest contributor to NODX decline.

NODX to the European Union members and the Chinese mainland dropped 28.9 percent and 16.4 percent respectively.

Singapore's total exports and imports also declined in August.

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