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 international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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