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S'pore's Exports Continue To Decline In Sep
Source: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1231791/1/.html
Source Date: Wednesday, October 17, 2012
Focus: Knowledge Management in Government
Country: Singapore
Created: Oct 16, 2012

SINGAPORE: Singapore's exports continue to decline in September from a year ago after a steep fall the previous month.

It was hit by months of weakness in Western economies along with a slowdown in China.

According to trade agency, International Enterprise Singapore, non-oil domestic exports fell 3.4 per cent in September following a 10.7 per cent year-on-year contraction in August.

But on a month-on-month basis, exports expanded by 1.6 per cent in September compared to the previous month's 9.1 per cent decline.

IE Singapore attributes the drop in exports in September from a year ago to a contraction in electronic exports which outweighed the rise in non-electronic exports.

The top three contributors to the non-oil domestic exports contraction in September were the European Union, Hong Kong and Malaysia.

- CNA/ck
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