SINGAPORE: The non-oil domestic exports (NODX) in Singapore declined by 20.1 percent year-on-year in August, marking a contraction for the 11th straight month, government agency Enterprise Singapore announced on Monday.
The figure is lower than the 20.3-percent decline in the previous month, Enterprise Singapore noted, adding that NODX in August fell 3.8 percent month-on-month, compared to the previous 3.5-percent contraction in July.
In August, electronic exports contracted by 21.1 percent and nonelectronic exports declined by 19.9 percent, according to the government agency.
Singapore’s total trade contracted in August 2023, both in exports and imports. On a year-on-year basis, the total trade declined by 15.2 percent during this period, following the 20.9 percent contraction in the preceding month.