Singapore exports down 15.9% in May as China shipments slip


On a month-on-month, seasonally adjusted basis, exports grew 6.2%, accelerating from the 0.6% decline the month before, data from the trade agency Enterprise Singapore showed.

SINGAPORE: Singapore's non-oil domestic exports (NODX) fell 15.9% year-on-year in May partly due to a sharp decline in shipments to China, official data showed on Monday.

The drop was slightly smaller than the 16.5% decline predicted by economists in a Reuters poll, but more than the 10% fall seen in April.

On a month-on-month, seasonally adjusted basis, exports grew 6.2%, accelerating from the 0.6% decline the month before, data from the trade agency Enterprise Singapore showed.

This was better than the 4.9% increase predicted by economists - Reuters

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

singapore , May , exports , economy ,

   

Next In Business News

Sin-Kung Logistics’ IPO public portion oversubscribed 26.5 times
Banking sector's 5.4% YTD loan growth in line with expectation for 2024
Maersk says Red Sea disruption will cut capacity by 15-20% in second quarter
Gold rises on Fed rate cut hopes, Middle East tensions
Oil climbs as Gaza tensions rise, Saudi Arabia hikes prices
Ways China must tread for seamless transition to new era
Home sweet home
Asia shares rally on China's gains, Fed cut bets; yen weakens
Seeking cover from middlemen
A real need for local giants

Others Also Read