Singapore's non-oil exports slow down in March.
SINGAPORE, April 17 Kyodo
Singapore's non-oil domestic exports (NODX NODX Non-Oil Domestic Exports (Singapore) ) slid 2.1% in March on a year-on-year basis to S$9.6 billion ($5.3 billion), according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. the government's latest monthly trade data issued Tuesday.
The slowdown is ''in line with the weakening weak·en
tr. & intr.v. weak·ened, weak·en·ing, weak·ens
To make or become weak or weaker.
weaken·er n. global electronics demand and slowing U.S. economy,'' said the Singapore Trade Development Board, which issued the data.
NODX is key trade data widely watched by analysts monitoring the Singapore economy as it shows exports of locally manufactured products -- about 60% of which are electronics.
The 2.1% fall in NODX is a sharp slowdown from positive growth of 5.4% in February and 9% in January.
Exports to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Singapore's largest market, plummeted 10% to S$2.2 billion last month after sliding 8.9% in February.
The other key markets offered little comfort. Exports to Japan sank 5.9% after posting 34.3% growth in February.
Also, exports to the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the
European Community fell 7.5% in March while exports to Malaysia dipped 8.9%.
On a product basis, electronics exports overseas dropped 10.6% in March, the second consecutive month of decline, while exports of non-electronics products continued to remain strong with 14.4% growth.
Among electronics, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. equipment exports dived 34.5% to S$185 million while personal computer exports fell 17.8% to S$311 million.