Singapore’s petrochemical exports fall by 26.8% in July; NODX up 6%

SINGAPORE (ICIS)–Singapore’s petrochemical exports fell by 26.8% year on year in July but overall non-oil domestic exports (NODX) rose on stronger shipments of electronic products and pharmaceuticals, official data showed on Monday.

The year-on-year fall in petrochemical exports in July marked the 23rd straight month of contraction.

Singapore’s NODX rose by 6.0% year on year in July, decelerating from the 13.9% expansion in June.

NODX to the US and South Korea surged year on year in July but shipments to China, Thailand and Indonesia fell.

Exports of pharmaceuticals rose by 15.5% year on year in July, slowing down from the 30.8% rise in June.

Overall exports of non-electronic NODX, which includes petrochemicals and pharmaceuticals, rose by 6.9% year on year in July.

Exports of electronic products rose by 2.8% year on year, slowing down from the 22.2% expansion in June.

Interactive by Nurluqman Suratman