Singapore Trade December 2015

Singapore

Singapore: Exports fall at sharper rate in December

January 19, 2016

In December, non-oil domestic exports (NODX) fell a sharp 7.2% over the same month last year, which was below the 3.4% decrease tallied in November and marked a four-month low. The result undershot the softer 4.4% decline that the markets had expected.

December’s increase reflected deteriorations in five of the country’s top ten export markets, with exports to China, Singapore’s largest export recipient, and South Korea particularly suffering in December. According to International Enterprise (IE) Singapore, December’s result reflected deteriorations in both electronics and non-electronic shipments compared to November. Exports of electronic products in December fell 0.3%, which contrasted the 0.6% growth tallied in the previous month. Meanwhile, non-electronics fell 11.3%, which was much a much sharper drop than the 5.1% decline recorded in November.

On a month-on-month seasonally-adjusted basis, exports fell 3.1% in December, which followed November’s 3.8% decrease.

Met the why particular Consensus Forecast panelists see overall nominal exports expanding 11.2% in 2016, which would bring exports to a total of USD 112 billion. For 2017, the panel foresees exports growing 2.3% and thus reaching a total of USD 411 billion by the end of the year.


Author:, Economist

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Singapore Trade December 2015

Note: Year-on-year and seasonally-adjusted month-on-month variation of non-oil domestic exports in %.
Source: Statistics Singapore (Singstat) and Met the why particular calculations.


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