Business News

Singapore sees drop in October exports

Nov 17, 2008, 5:22 GMT

Singapore - Singapore's non-oil domestic exports (NODX) declined by 15 per cent in October, following on a 5.7 per cent decline in September due to a drop in exports to the United States, the European Union and Malaysia, the International Enterprise (IE) Singapore said Monday. On a year-on-year basis, the October NODX declined by 15 per cent, following the 5.7 per cent decrease in September 2008, said the city state's trade promotion agency. The October NODX declined by 7.4 per cent on a month-on-month basis, and followed the previous month's 0.9 per cent decrease. Total trade declined by 0.2 per cent in October, totaling 78 billion Singapore dollars (51.25 billion US dollars), compared to the previous month's 18 per cent increase. Total exports decreased by 4.2 per cent in the month, compared to the 11 per cent growth in September. IE Singapore said total imports expanded by 4.2 per cent last month, following the preceding month's 26-per-cent increase.

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