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Singapore’s exports dip 3.3% in November

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Exports of electronic products from Singapore grew by 0.7 per cent on a year-on-year basis in November in contrast to the 3.2 per cent decrease in the previous month. The growth was largely due to telecommunications equipment (41.4 per cent), other computer peripherals (80 per cent), and diodes and transistors (6.5 per cent), it was reported by the trade agency.

Non-electronic exports declined by 5.1 per cent, compared with the 1.4 per cent rise in the previous month. This decline was led by pharmaceuticals (-12.5 per cent), structural parts (-91.3 per cent) and food preparations (-24.6 per cent).

Exports to all of the top 10 markets – except the US, Japan, Thailand and South Korea – fell last month. The main contributors to the decline were China, Malaysia and the European Union, according to IE Singapore, which drives Singapore’s external trade.