Singapore’s exports decline in Oct. ’24

Singapore’s non-oil domestic exports (NODX) contracted 4.6 per cent year-on-year in October 2024, marking a slowdown from the 0.9 per cent growth recorded in September, Enterprise Singapore announced on Monday.

While electronic NODX increased by 2.6 per cent year-on-year, non-electronic NODX declined by 6.7 per cent due to contractions in specialised machinery, pharmaceuticals, and petrochemicals.

Exports to Singapore’s major markets also weakened in October. Overall, Singapore’s total trade decreased by two per cent year-on-year, following a 0.4 per cent growth in September.

Attribution: Xinhua

Subediting: M. S. Salama