Established 1974 313,000+ clients worldwide 17,000+ markets

Singapore’s October non-oil domestic exports up 8.3%

October's exports were higher than the revised 8.1% rise in September, Enterprise Singapore said.

IG Analyst

Publication date : 2018-11-16T07:12:52+0000

port of Singapore

Singapore’s non-oil domestic exports (Nodx) in October rose higher than the previous month due to a surge in non-electronic shipments.

Nodx rose by 8.3% for last month, following the revised 8.1% rise in September, Enterprise Singapore said on Friday.

Shipments of non-electronic goods rose by 12.8% for last month, following the 11.8% increase in the previous month, with contributions coming from pharmaceuticals, food preparations, and specialised machinery.

Electronic products, meanwhile saw a 3.5% slowdown in shipments, following the 1.3% dip in the previous month. The fall was led by declines in shipments of personal computers, diodes and transistors, and disk media products.

On a seasonally adjusted month-on-month basis, Nodx rose 4.2%, compared to the previous month’s 4.4% decline, due to a rise in both electronic and non-electronic Nodx.

Seven out of Singapore’s top 10 exporting partners increased shipments last month, with the largest contributors the European Union, United States, and Japan, at gains of 37.0%, 32.8%, and 20.7%, respectively.

Nodx to the US rose by 32.8% for last month, following the 41.5% bumper growth in September, due to an increased export of food preparations, pharmaceuticals, and miscellaneous manufactured articles.

Shipments to China, Taiwan, and Malaysia fell by 25.8%, 0.7%, and 0.4%, respectively.

Total trade rose 20.1% for October compared to a year ago, higher that the 13.5% growth in September.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer

Find out more about

Trading forex
Forex CFD details

Disclaimer:

All forms of investments carry risks. CFDs are leveraged instruments. Trading CFDs may not be suitable for everyone and can result in losses that exceed deposits, so please ensure that you fully understand the risks and costs involved by reading the Risk Disclosure Statement and Risk Fact Sheet.

IG provides an execution-only service. The information herein does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for a transaction in any financial instrument, nor does the information take into account the specific objectives, financial situation or particular needs of any person. Where in doubt, you should seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

IG Asia Pte Ltd (Co. Reg. No. 200510021K) holds a capital markets services licence issued by the Monetary Authority of Singapore for dealing in capital market products that are over-the-counter derivatives contracts and is an exempt financial adviser.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

This advertisement has not been reviewed by the Monetary Authority of Singapore.