Tuesday, May 19, 2009

Singapore export was down again.

Merlion - Singapore

Singapore's main exports down 19.2 per cent during April 2009 compared to the same period of the previous year (2008) which indicates contuining of recovery slowing down as impact of ecnomic recession, according to government data issued on Monday (18 / 5).

According to the data, shipment of electronic products continue to come down sharply from March and Petrochemical products spur a big decline from the pharmaceutical product.

"Total export non-oil domestic (NODX) reached 11.32 billion Singapore dollars (7.7 billion U.S. dollars) during April," said the Institute of Export Development, the International Enterprise Singapore (IE Singapore).

NODX down 17.3 percent over March and 23.8 percent in February. World demand for Asian export products, including goods from Singapore, has been reduced because of the economic crisis forcing consumers to tighten their buying.

IE Singapore said the decline during April related to the contraction in export markets electronic and non-electronic products.