Singapore: Non-oil domestic exports rise at a slower rate in August
Latest reading: Non-oil domestic exports (NODX) growth softened to 10.7% year-on-year in August, following July’s 15.7% upturn. The moderation was largely due to a weaker rise in non-electronic product shipments, which outweighed acceleration exports of electronics. Looking at key markets, NODX to China and several ASEAN countries lost steam and shipments to Japan and the EU dropped at faster rates.
Meanwhile, in seasonally adjusted month-on-month terms, NODX exports declined 4.7% in August, compared to July’s 12.2% increase.