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Singapore's non-oil domestic exports decreased

Staff Writer |
Singapore's non-oil domestic exports decreased at a faster-than-expected pace in July, due to the decline in both electronic and non-electronic NODX, data from the International Enterprise Singapore showed.

NODX plunged 10.6 percent year-over-year in July, much faster than the 2.4 percent drop in the previous month. That was also well above the 2.5 percent fall expected by economists.

Exports of electronic products contracted 12.9 percent annually in July, exceeding economists' expectations for a 4.3 percent decline. The decrease in electronic domestic exports was largely due to PCs, parts of ICs and diodes & transistors.

Similarly, shipments of non-electronic products dipped 9.5 percent in July, following a 2.6 percent decline in the preceding month.

On a monthly basis, NODX slid 1.8 percent from June, when it slumped by 13.0 percent.

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