Singapore skyline

Singapore Trade August 2019

Singapore: Non-oil exports contract at softer rate in August

Non-oil domestic exports (NODX) dropped 8.9% year-on-year in August, improving from the revised 11.4% contraction in July (previously reported: -11.2% year-on-year) and beating market expectations of yet another double-digit decline. On a month-on-month seasonally-adjusted basis, NODX grew 6.7% in August, up from the 3.5% rise in July.

August’s print reflected drops in shipments of both electronic and non-electronic NODX. Electronic exports fell at an accelerated pace in the month, owing to weakness in demand for microchips, PCs and disk media products amid weak global tech demand. Meanwhile, non-electronic exports contracted at a softer pace in August compared to July and mostly resulted from strong drops in pharmaceuticals, petrochemicals and primary chemicals exports. In terms of markets, demand from Hong Kong, the United States and Malaysia fell at strong rates. More positively, demand from China grew at a robust pace.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen