SINGAPORE, Jan. 16-- Singapore's vital non-oil residential exports (NODX) decreased by 7.9 percent in 2008 because of lower digital and also non-electronic exports, the government information revealed on Friday.
Electronic NODX contracted by 12 percent in 2008 while non-electronic NODX lowered by 5.2 percent, claimed International Business Singapore (IE Singapore), the nation's trade-promotion agency.
The decline in digital NODX was mostly due to lower sales of consumer electronics, telecommunications tools as well as integrated circuits. The tightening of non-electronic NODX was credited to decreased exports of pharmaceuticals, disk media products and also petrochemicals. Amongst the top ten NODX markets, the United States, EU and also Malaysia were the biggest factors to the tightening in 2008.
IE Singapore additionally launched in its regular monthly record the stats of December 2008.
The NODX decreased by 21 percent in December, complying with a 17 percent reduction in November, because of reduced digital as well as non-electronic exports.
On https://www.irooildrilling.com -on-month seasonally changed basis, NODX decreased by13 percent in December, following the previous month's 2.8 percent decline.
NODX to all of the top ten markets reduced in December 2008, with the exemption of Japan. Shipments to the EU decreased by 34 percent, to the USA down by 24 percent which to Malaysia contracted by 26 percent in December 2008, while NODX to Japan increased by 1.9 percent in December 2008, added by greater sales in non-electronic exports.
Complete trade decreased by 19 percent in December 2008, complying with an 11 percent decrease in November 2008. Complete exports reduced by 20 percent in the month, adhering to a 12 percent contraction in November 2008. Overall imports decreased by 17 percent in December 2008, complying with a 9.3 percent decline in the preceding month.
Singapore's economy is greatly dependent on profession, and also non-oil residential exports, which were worth over half of the country's gross domestic product in 2014.
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