Singapore's key exports decline for 11th consecutive month

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 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 non-electronic 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.