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Singapore exports suffer 6.6pc decline in non-oil products in May
SINGAPORE's non-oil domestic exports (NODX) declined 6.6 per cent in May year on year compared to a 0.9 per cent downtick in April in every category except oil-related products.
It was also announced that declines were across all of its top 10 NODX markets except for China, Malaysia and Indonesia. Leading the declines were the EU, Hong Kong and Thailand.
May's non-oil re-exports (NORX) was reported to have contracted 4.7 per cent, following a shrinkage of 6.6 per cent month, which was not offset by the increase in electronic NORX.
Trade statistics released by Singapore's International Enterprise (IE) showed that the NODX decrease in May was largely driven by the decline in non-electronic exports, exceeding the rise in electronic exports.
It was also announced that declines were across all of its top 10 NODX markets except for China, Malaysia and Indonesia. Leading the declines were the EU, Hong Kong and Thailand.
May's non-oil re-exports (NORX) was reported to have contracted 4.7 per cent, following a shrinkage of 6.6 per cent month, which was not offset by the increase in electronic NORX.
Trade statistics released by Singapore's International Enterprise (IE) showed that the NODX decrease in May was largely driven by the decline in non-electronic exports, exceeding the rise in electronic exports.
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