Singapore’s non-oil domestic exports (NODX) in September slipped 1.1 percent year on year (Source: straitstimes.com)Singapore’s non-oil domestic exports (NODX) in September slipped 1.1 percent year on year, breaking four straight months of growth, according to the International Enterprise Singapore (IES), a government agency that promotes international trade and partners Singapore companies to go global.
The growth rate was 16.7 percent in August.
The authority attributes the month’s negative export growth to the fact that the decrease in electronic NODX outweighed the increase in non-electronic exports. Singapore’s electronic NODX fell 7.9 percent year on year in September.
Among the top NODX markets of Singapore, China, Malaysia and Japan remained major markets in September, with respective growths of 9.6 percent, 21.3 percent and 18.1 percent year on year, Xinhua News Agency reported.
Total trade of the country expanded 6.2 percent from the same month last year, marking the 11th consecutive month for export and import increase.
Singapore’s Ministry of Trade and Industry estimated the country’s economic growth standing at 4.6 percent in the third quarter, highest in the past three years. The figure is also higher than the 3.8 percent predicted by Reuters poll and 2.9 percent of the second quarter./.