Singapore's non-oil domestic exports fall 11% in August
Singapore's exports suffered another disappointing month after falling double digits, increasing fears that the economy is headed for a major speed bump.
Non-oil domestic exports fell by 11 per cent in August compared with the same month last year, reversing the 5.7 per cent increase in July.
The declines were made worse by the fact that both electronic and non-electronic non-oil domestic exports fell. Electronic NODX contracted by 11 per cent in August 2012, in contrast to the 2.0 per cent growth in the previous month, said trade agency IE Singapore.
Non-electronic NODX decreased by 10 per cent in August 2012, compared to the 7.8 per cent increase in the previous month.