SINGAPORE, Aug 17 — The non-oil domestic exports in Singapore declined by 20.2 per cent year-on-year, marking a contraction for the 10th straight month, government agency Enterprise Singapore announced Thursday, Xinhua reported.
The figure extended the 15.6-per cent decline in the previous month, Enterprise Singapore noted, adding that non-oil domestic exports fell 3.4 per cent month-on-month in July, reversing a 5.2 per cent rise in June.
In July, the electronic export contracted by 26.1 per cent and non-electronic export declined by 18.5 per cent. Both worsened from the previous month, according to the government agency.
Though non-oil domestic exports to the United States rose, export to Singapore's major markets shrank in July.
Shipment to China fell 20.1 per cent year-on-year, due to weaker exports of integrated circuits, pharmaceuticals and petrochemicals.
Non-oil domestic exports to the European Union members plunged 38.6 per cent due to a fall in pharmaceuticals, primary chemicals and specialised machinery, the agency noted.
Singapore on last Friday downgraded its GDP growth forecast to 0.5-1.5 per cent from the earlier range of 0.5-2.5 per cent due to sluggish demand from major trading partners.
— Bernama-Xinhua
