Singapore’s non-oil exports down 15.5 percent in May
Singapore’s non-oil domestic exports (NODX) decreased by double digits for the third straight month in May, according to the latest report released by the Enterprise Singapore on June 17.
Singapore’s non-oil domestic exports decrease by 15.5 percent in May (Source: businesstimes.com.sg)
Singapore (VNA) – Singapore’s non-oil domestic exports (NODX) decreasedby double digits for the third straight month in May, according to the latestreport released by the Enterprise Singapore on June 17.
In the month, NODXfell by 15.5 percent year-on-year, following decreases of 11.8 percent in Marchand 10 percent in April.
The report attributed thereduction to declines in both electronic and non-electronic shipments.
Electronic NODX fellby a sharp 31.4 percent in May, following the 16.3 percent decrease in theprevious month, while non-electronic NODX decreased by 10.8 percent last month,after the 8 percent decline in April.
Decreases inSingapore’s exports were seen in nine out of its 10 biggest importers, with thehighest rates reported in China, Hong Kong and Taiwan. The country’s exportturnover to the US increased by 2.2 percent.
Recently, theSingaporean Ministry of Trade and Industry adjusted the forecast economic growthrate for 2019 from 1.5-3.5 percent to 1.5-2.5 percent.-VNA
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Singapore’s non-oil domestic exports decrease by 15.5 percent in May (Source: businesstimes.com.sg) 
