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Singapore exports slide in October

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Non-oil domestic exports in Singapore contracted 1.5 per cent on-year in October, dragged down by a decrease in both electronic and non-electronic exports. The fall comes after a 0.9 per cent growth in the previous month, according to statistics released on Monday (Nov 17) by International Enterprise (IE) Singapore.

Electronic exports fell 3.6 per cent in October, after the 4 per cent decline in the previous month. The decrease was largely due to parts of integrated circuits, parts of PCs and consumer electronics. Non-electronic exports contracted by 0.5 per cent after the 3 per cent rise in the previous month.

On a year-on-year basis,to all of the top 10 markets – except Thailand, South Korea, Taiwan, Japan, the European Union and China – fell in October. The top three contributors to the decline were Hong Kong, Indonesia and Malaysia.