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Singapore's export performance remains weak

Singapore's export performance remains weakSingapore, Aug 16 : Singapore's non-oil domestic exports (NODX), a key indicator of the country's export performance, fell 0.7 percent year-on-year in July, according to official statistics released Friday.

This fall was reported following the 8.9 percent decrease in the previous month, mainly due to a contraction in electronic NODX which outweighed the rise in non-electronic NODX, Xinhua reported.

On a month-on-month seasonally adjusted basis, the NODX declined by 1.1 percent in July, compared to the previous month's 3.3 percent expansion, due to a decrease in both electronic and non-electronic NODX.

Electronic NODX contracted by 7.6 percent year-on-year in July, after the 12.4 percent decline in June. The NODX in non-electronic products, on the other hand, expanded by 3.0 percent year-on-year in July, compared with revised decline of 7.2 percent in June.

Total trade rose by 5.8 percent year-on-year in July after the 6.2 percent decrease in the previous month.(IANS)