SINGAPORE, Jan. 16 -- Singapore's key non-oil domestic exports (NODX) declined by 7.9 percent in 2008 due to lower electronic and non-electronic exports, the government data showed on Friday.
Electronic NODX contracted by 12 percent in 2008 while non-electronic NODX decreased by 5.2 percent, said International Enterprise Singapore (IE Singapore), the country's trade-promotion agency.
The decline in electronic NODX was mainly due to lower sales of consumer electronics, telecommunications equipment and integrated circuits. The contraction of non-electronic NODX was attributed to declined exports of pharmaceuticals, disk media products and petrochemicals. Among the top ten NODX markets, the United States, EU and Malaysia were the largest contributors to the contraction in 2008.
IE Singapore also released in its monthly report the statistics of December 2008.
The NODX declined by 21 percent in December, following a 17 percent decrease in November, due to lower electronic and non-electronic exports.
On a month-on-month seasonally adjusted basis, NODX declined by13 percent in December, following the previous month's 2.8 percent decrease.
NODX to all of the top ten markets decreased in December 2008, with the exception of Japan. Shipments to the EU declined by 34 percent, to the United States down by 24 percent and that to Malaysia contracted by 26 percent in December 2008, while NODX to Japan rose by 1.9 percent in December 2008, contributed by higher sales in non-electronic exports.
Total trade declined by 19 percent in December 2008, following an 11 percent decrease in November 2008. Total exports decreased by 20 percent in the month, following a 12 percent contraction in November 2008. Total imports declined by 17 percent in December 2008, following a 9.3 percent decrease in the preceding month.
Singapore's economy is heavily dependent on trade, and non-oil domestic exports, which were worth over half of the country's gross domestic product last year.
Electronic NODX contracted by 12 percent in 2008 while non-electronic NODX decreased by 5.2 percent, said International Enterprise Singapore (IE Singapore), the country's trade-promotion agency.
The decline in electronic NODX was mainly due to lower sales of consumer electronics, telecommunications equipment and integrated circuits. The contraction of non-electronic NODX was attributed to declined exports of pharmaceuticals, disk media products and petrochemicals. Among the top ten NODX markets, the United States, EU and Malaysia were the largest contributors to the contraction in 2008.
IE Singapore also released in its monthly report the statistics of December 2008.
The NODX declined by 21 percent in December, following a 17 percent decrease in November, due to lower electronic and non-electronic exports.
On a month-on-month seasonally adjusted basis, NODX declined by13 percent in December, following the previous month's 2.8 percent decrease.
NODX to all of the top ten markets decreased in December 2008, with the exception of Japan. Shipments to the EU declined by 34 percent, to the United States down by 24 percent and that to Malaysia contracted by 26 percent in December 2008, while NODX to Japan rose by 1.9 percent in December 2008, contributed by higher sales in non-electronic exports.
Total trade declined by 19 percent in December 2008, following an 11 percent decrease in November 2008. Total exports decreased by 20 percent in the month, following a 12 percent contraction in November 2008. Total imports declined by 17 percent in December 2008, following a 9.3 percent decrease in the preceding month.
Singapore's economy is heavily dependent on trade, and non-oil domestic exports, which were worth over half of the country's gross domestic product last year.
