Unexpected 8.5% drop in Singapore exports

Shipping containers seen at Pasir Panjang Terminal, on Aug 16, 2018.
Shipping containers seen at Pasir Panjang Terminal, on Aug 16, 2018.PHOTO: ST FILE

Singapore's non-oil domestic exports (Nodx) took an unexpected dip in December, falling for a second consecutive month and ending 2018 on a weak note.

Nodx decreased by 8.5 per cent in December compared with a year ago, marking its worst performance since October 2016 - with declines in both electronic and non-electronic shipments.

The figure was well below predictions of a 2 per cent increase according to a Bloomberg poll, in part due to the high base of comparison, given the high exports in December 2017.

Shipments to most of Singapore's top markets declined except to the United States and China, and economists noted the latest figures were in line with recent trade data disappointments out from other Asian countries.

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A version of this article appeared in the print edition of The Straits Times on January 18, 2019, with the headline 'Unexpected 8.5% drop in S'pore exports'. Print Edition | Subscribe