By Ronnie Harui
SINGAPORE–Singapore’s non-oil domestic exports fell for a ninth straight month in June, with shipments of both electronics and non-electronics declining in most of its top 10 markets.
Non-oil domestic exports from the Southeast Asian trading hub in June contracted 15.5% compared with the same period a year earlier, Enterprise Singapore said Monday. In May, non-oil domestic exports dropped by a revised 14.8% on year.
On a month-over-month seasonally adjusted basis, non-oil domestic exports grew 5.4% in June. That compared with the 14.6% contraction in May.
Electronics exports slid 15.9% in June, following the 27.2% decrease in the previous month. Non-electronics exports fell 15.4% in June, accelerating from the 10.7% decline in the prior month.
Among the main contributors to June’s contraction in non-electronics domestic exports were petrochemicals, which plunged 34.0%, pharmaceuticals, which slid 29.5%, and primary chemicals, which slumped 61.8%, Enterprise Singapore said.
Non-Oil Domestic Exports to Top Markets (% Y/Y) Top Market May June Malaysia -26.2 -30.7 Indonesia -13.7 -35.7 South Korea -18.6 -24.2 Japan -20.4 -28.9 Taiwan -19.4 -16.1 EU 27 -16.1 -12.3 Thailand -8.5 -26.7 US +4.8 -1.8 China +3.7 +3.1 Hong Kong -41.2 +41.9
Write to Ronnie Harui at [email protected]
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