Singapore’s exports up 6% on-year in August

2013 port performance

Non-oil domestic exports (NODX) in Singapore rose 6 per cent on-year in August, due to an increase in non-electronic exports which outweighed the decline in electronic exports.

The rise in NODX comes after a 3.3 per cent contraction in the previous month and a 4.6 per cent contraction in June, according to statistics released on Wednesday (Sep 17) by International Enterprise (IE) Singapore.

Screen Shot 2014-09-17 at 9.43.19 AM

On a month-on-month seasonally adjusted basis, NODX increased by 7.6 per cent in August, following the previous month’s 2.5 per cent expansion.

Electronic exports fell 6.9 per cent on-year in August, following the 7.9 per cent decline in the previous month. The decrease was largely due to parts of PCs (-17.3 per cent), integrated circuits (ICs) (-4.2 per cent) and disk drives (-22.5 per cent).

Non-electronic exports expanded by 12.1 per cent in August, in contrast to the 1.1 per cent decline in the previous month. The rise was led by petrochemicals (+39.9 per cent), pharmaceuticals (+26.9 per cent), and structures of ships and boats (+1,337.8 per cent).

On a year-on-year basis, NODX to all of the top 10 markets – except Hong Kong, Japan and Thailand – rose last month. The top three contributors to the rise were South Korea, Taiwan and China.

Screen Shot 2014-09-17 at 9.43.42 AM

Non-oil re-exports (NORX) declined by 5.6 per cent on-year in August, after the 1.7 per cent contraction in the previous month, due to a decrease in both electronic and non-electronic re-exports.

Screen Shot 2014-09-17 at 9.44.00 AM

 

Electronic re-exports fell by 7.8 per cent last month, following the 0.1 per cent decline in July. The contraction was due to ICs (-14.5 per cent), parts of PCs (-19.4 per cent) and telecommunications equipment (-1.2 per cent).

Non-electronic NORX decreased by 3.3 per cent, after the 3.3 per cent decline in the previous month. The contraction was due to jewellery (-71.6 per cent), civil engineering equipment parts (-46.2 per cent) and primary chemicals (-37.4 per cent).

 

 

 

Source : Channel News Asia | September 17, 2014

Thomas D’Innocenzi

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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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