SINGAPORE: Singapore's non-oil domestic exports (NODX) fell for the third straight month in December due to weak global demand. NODX fell by 20.6 per cent year in December from a high base a year ago, following the 14.7 per cent decrease in November. According to data released by Enter
SINGAPORE: Singapore's non-oil domestic exports fell for the third straight month in December due to weak global demand.
On a year-on-year basis, electronics contracted by 17.9 per cent in December, following the 20.2 per cent decline in the previous month. Non-monetary gold, specialised machinery and primary chemicals contributed the most to the decline in non-electronics exports. "Until the global central banks including the US Federal Reserve clearly pivot to a rate pause and the prevailing recession worries abate, global demand conditions are likely to continue to be weighed down in the first quarter of 2023," said Ms Ling.NODX to Singapore's top 10 markets as a whole declined in December, although exports to Japan and South Korea rose 6.8 per cent and 14.3 per cent respectively.Exports to Indonesia dropped by 35.4 per cent in December compared to 4.
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Singapore's non-oil exports fall 20.6% in December; third straight month of declineSINGAPORE: Singapore's non-oil domestic exports (NODX) fell for the third straight month in December due to weak global demand. NODX fell by 20.6 per cent year in December from a high base a year ago, following the 14.7 per cent decrease in November. According to data released by Enter
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