Singapore's petrochemical exports shrink continuously
Recently, Singapore's Enterprise Development Authority (EDA) released data showing that Singapore's petrochemical exports fell 23.8 percent year-on-year in September, a decline greater than the 16.4 percent drop in the previous month, marking the 25th consecutive month of decline in the country's petrochemical shipments.
Singapore's Enterprise Development Authority said the country's petrochemical shipments were severely hit by the US-China trade war that began in mid-July 2018, while the COVID-19 outbreak this year further worsened Singapore's petrochemical exports. On the other hand, Singapore's overall non-oil domestic exports (NODX) grew 5.9 percent year-on-year in September, the fourth consecutive month of growth, due to higher overseas electronics shipments.NODX growth slowed from 7.7 percent in August.
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