Singapore's exports fall for sixth consecutive month

Imports and Exports | | MIC Customs Solutions |

Fewer products were sent out from Singapore last month.

Non-oil exports from Singapore fell in August 2019 for the sixth month in a row, according to new figures from Enterprise Singapore.

The data showed exports declined by 8.9 per cent year-on-year, slightly less than the 12.9 per cent predicted by Reuters.

Electronics were hit particularly hard, registering a 25.9 per cent decrease, while non-electronic exports fell by 2.2 per cent.

Pharmaceuticals contributed the most to the reduction in non-electronic exports with a 23.6 per cent fall, followed by petrochemicals and primary chemicals.

In terms of individual countries, the biggest decrease was seen in Hong Kong, which accepted 32 per cent fewer shipments from Singapore last month.

The news comes after the Ministry of Trade and Industry in Singapore cut its full-year growth forecast to between zero and one per cent from the original 1.5 per cent, citing the ongoing impact of the US-China trade war and a global downturn in the electronics industry.