Singapore Aug. NODX Drops More Than Expected

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Singapore non-oil domestic exports declined 7.1% in August from the prior year, following a 8.7% fall in July, a report released by the International Enterprise Singapore showed Thursday. Economists had expected the NODX to drop 5%.

Meanwhile, NODX grew 1.3% month-on-month in August compared to July's 5.9% increase.

Electronic NODX slipped 14% in August and non-electronic NODX decreased 2.8%. The decrease in electronic domestic exports was largely due to lower domestic exports of parts of PCs, parts of ICs and telecommunications equipment.

Singapore non-oil domestic exports declined 7.1% in August from the prior year, following a 8.7% fall in July, a report released by the International Enterprise Singapore showed Thursday. (Market News Provided by RTTNews)