Singapore's non-oil domestic exports down 5.7 pct in September
17/10/2008 17:20
Singapore's key non-oil domestic exports (NODX) fell 5.7 percent in
September from a year earlier, following the 14 percent decline in August,
government data showed today.
The decline was due mainly to lower exports of
both electronics and non-electronic products, said International Enterprise
Singapore (IE Singapore), the trade-promotion agency, in its monthly
report.
On a month-on-month seasonally adjusted basis, non-oil domestic
exports fell 0.8 percent, lower than market forecasts.
The Singapore economy
is heavily dependent on trade, and non- oil domestic exports, which were worth
about 70 percent of the country' s gross domestic product last
year.
Singapore's non-oil domestic exports to Chinese mailand, Indonesia,
South Korea and Hong Kong of China grew, but those to other top markets such as
the United States and European Union fell,said IE Singapore.
According to the
data, September's electronics shipments fell 11 percent from a year ago, due to
lower sales of consumer electronics,telecommunications equipment and disk
drives.
Non-electronic exports were 1.9 percent lower due to reduced exports
of pharmaceuticals, disk media products, specialized machinery and metalworking
machinery.
However, total trade rose 18 percent in September to 84 billion
Singapore dollars (about US$57 billion), following the 10 percent growth in
August.
Xinhua
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