Singapore June petrochemical exports, NODX fall 17%
Singapore's petrochemical exports in June fell by 16.7% year on year to Singapore dollars (S$) 1.24bn ($912m), weighing on overall non-oil domestic exports (NODX), official data showed on Wednesday.
The June reading marks the 10th straight month of contraction in the country's petrochemical exports.
The country's overall NODX in June fell by 17.3% year on year to S$12.4bn, posting a steeper decline than the previous month's 16.3%, Enterprise Singapore said.
Non-electronic NODX, which includes pharmaceuticals and petrochemicals, fell by 12.4% year on year to S$9.79bn in June.
Its exports of primary chemicals to China slumped by 50.5% in June.
Singapore's NODX to nine out of Singapore's top 10 markets contracted in June.
Singapore’s export-oriented economy has been hurting from the year-long trade war between the US and China.
In the second quarter, the city-state posted a much slower annualised GDP growth of 0.1%, and registered a 3.4% quarter-on-quarter contraction.
($1 = S$1.36)
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