Singapore exports rise 1.1% in Q3 after falling in previous two quarters

SINGAPORE - Singapore's exports grew 1.1 per cent in the third quarter over last year, boosted by shipments of non-electronic products.

This came after two consecutive quarters of decline, according to trade agency IE Singapore on Tuesday.

Non-electronic shipments, which comprise about 70 per cent of total non-oil domestic exports, expanded 4.5 per cent in the July to September period.

However, this was offset by weakness in exports of electronic products, which contracted 6.3 per cent compared with the same quarter last year, mainly due to fewer shipments of PC parts, integrated circuits and disk drives. This followed a decline of 13.8 per cent in the previous quarter.

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On a year-on-year basis, Singapore's total trade declined by 3.5 per cent in the third quarter, in contrast to the 2.9 per cent increase in the previous quarter.

Non-oil domestic exports for the full year are expected to fall by 1 per cent to 1.5 per cent.

For next year, they are projected to grow by 1 per cent to 3 per cent respectively.