Soft recovery for Singapore’s electronic exports

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Singapore’s non-oil domestic exports rebounded in February, climbing by a better-than-expected 9.1 per cent on a year-on-year basis.

This was led by non-electronic exports which rose by 15.4 per cent with exports of chemicals rising 49.3 per cent year-on-year and pharmaceuticals gained 21.8 per cent.

However, electronics exports remained weak – contracting by 3.7 per cent year-on-year on top of the 17 per cent decline in the previous month.

Looking ahead, economists said recovery in the electronics sector will lag behind those of Singapore’s North Asian neighbours.

Leong Wai Ho, senior regional economist at Barclays, said: “A big catalyst for electronics is the launch of popular smartphone brands. Samsung is launching its Galaxy S5 worldwide in the second quarter and I think that could trigger Apple to do the same later in the year. You could see a resurgence of the smartphone value chain.”

He added: “Unfortunately, Singapore is not well-plugged into that space. We’re more plugged into the global IT or PC segment of the electronics value chain. Until we see Fortune 500 companies in the US raising their IT capital budgets, we will not see a bounce in Singapore’s electronics exports in a meaningful sense.”

Source : Channel News Asia | March 17, 2014

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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