SINGAPORE: Singapore’s non-oil domestic exports (NODX) fell 4.6 per cent in July, a reversal from the revised 12.9 per cent expansion posted in June.
The drop is steeper than the 1.8 per cent contraction forecast by a Reuters poll.
Enterprise Singapore (EnterpriseSG) data released on Monday (Aug 18) showed that electronics exports rose, while non-electronics shipments contracted.
The agency said the non-electronics decline was from a high base a year earlier and attributed it primarily to “volatile products like pharmaceuticals”.
On a year-on-year basis, electronic products exports increased by 2.8 per cent in July after growing by 8 per cent in the previous month.
PCs, integrated circuits and bare printed circuit boards grew by 80.4 per cent, 8 per cent and 25.8 per cent, respectively, contributing the most to the expansion of electronic products exports.
Non-electronic products fell by 6.6 per cent in July after seeing growth of 14.4 per cent in June.
Pharmaceuticals, petrochemicals and food preparations were the main contributors to the decline in non-electronic NODX as they contracted by 18.9 per cent, 23.4 per cent and 26.3 per cent, respectively.
NODX to the United States, China and Indonesia declined in July by 42.7 per cent, 12.2 per cent and 32.2 per cent, respectively, while NODX to the European Union, Taiwan, South Korea and Hong Kong grew.
Non-oil re-exports (NORX) grew by 22.1 per cent in July, following the 18.3 per cent growth recorded in the previous month.
Both electronics and non-electronics NORX saw an increase.
On a year-on-year basis, electronics NORX expanded by 29.1 per cent in July, following the 26.2 per cent growth posted in June.
Non-electronics NORX grew by 13.8 per cent in July following an 8.6 per cent increase in June.
NORX to Taiwan, the United States and Hong Kong grew by 180.8 per cent, 51.4 per cent and 25.3 per cent, respectively, in July.
Total trade expanded by 8.4 per cent year-on-year, following the 5.3 per cent rise seen in the last month, with total exports growing by 8.6 per cent and total imports expanding by 8.1 per cent.
