sin01

Singapore July exports shrink for fifth straight month

  • Aug 16, 2019

SINGAPORE: Singapore’s exports in July shrank for the fifth straight month, though the slump was slightly less severe than forecast, official data showed on Friday.

Non-oil domestic exports (NODX) last month fell 11.2% year-on-year as shipments of electronics and pharmaceuticals declined, data from the trade agency Enterprise Singapore showed, compared with a revised 17.4% contraction in June.

A Reuters poll of 11 economists had forecast a 15.2% contraction for July.

On a seasonally adjusted month-on-month basis, exports rose 3.7% in July after shrinking a revised 7.8% in June. The poll had called for a 2.7% rise from the month before. – Reuters

Source: https://www.thestar.com.my/business/business-news/2019/08/16/singapore-july-exports-shrink-for-fifth-straight-month#A4hTxyWTcGPe3r0V.99