Exports drop as electronics boom finally fizzles out

A general view of Tanjong Pagar container terminal is seen in Singapore, on March 17, 2017.
A general view of Tanjong Pagar container terminal is seen in Singapore, on March 17, 2017. PHOTO: AFP

Singapore's non-oil domestic exports dropped 1.1 per cent in September from a year earlier, ending four straight months of growth, as electronics shipments surprisingly turned negative.

IE Singapore said the drop reflected the decrease in electronics exports off the high base a year ago, while non-electronics continued growth at a moderated pace.

With the latest wave of smartphones launched, semiconductor foundries have seen order books thin out, and Singapore's electronics boom has finally fizzled out after 10 straight months of expansion.

But while electronics exports were underwhelming, declining by 7.9 per cent last month from a year earlier after a stellar 20.8 per cent expansion in August, shipments of non-electronics continued to grow.

Non-electronics exports rose by 1.9 per cent last month against growth of 15 per cent in August, partly due to the volatile pharmaceutical segment.

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A version of this article appeared in the print edition of The Straits Times on October 18, 2017, with the headline 'Exports drop as electronics boom finally fizzles out'. Print Edition | Subscribe