Singapore's December exports suffers worst decline in 2 years

Exports fell 8.5 per cent year-on-year in December


Wallace Ho

18 Jan, 2019

Singapore's December exports suffers worst decline in 2 years | BEAMSTART News

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Singapore's non-oil domestic exports (NODX) recorded worst decline in two years in the month of December.

Shipments to it's most popular markets have also been declining year on year, with shipments for electronics and pharmaceuticals decreasing significantly, according to data from Enterprise Singapore.

China exports have fallen year on year for the last 2 years in December.
"This could show that US-China trade talks have become a ruse, falling in line with disappointing China trade data. There is a likelihood that (export fall) will continue into the first quarter", Ms Selena Ling, head of treasury research and strategy at OCBC

Earlier this week, China announced that its December exports unexpectedly fell 4.4 per cent from a year earlier as well, the biggest monthly drop in two years, pointing to further weakening of the world's second-largest economy.

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