Singapore Aug non-oil exports fall 11%; shipments to EU slump 29%

17 September 2012 05:13  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s non-oil domestic exports fell by 11% year on year in August, reversing a 5.7% increase registered in the previous month, given a sharp contraction in shipments to Europe, official data released on Monday showed.

Its exports to the EU last month declined by 29% on an annual basis, while those to China slipped by 4.4%. To Malaysia and to Thailand, Singapore’s shipments fell by 5.6%, according to the International Enterprise Singapore (IE Singapore).

The city-state’s oil domestic exports for August, on a year-on-year basis, declined by 12% in value and down by 17% in volume terms, it said.

In August, total trade in Singapore fell by 7.1% year on year, as total exports declined by 5.9% while imports were down by 8.3%, IE Singapore said.

By: Pearl Bantillo
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