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Singapore – Jan External Trade
17/02/2020 02:53 pm MYT
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Year-on-year, total trade in Jan decreased by 3.1%– see figure 1. Total exports and imports declined by 5.3% and 0.8% respectively. Non-oil domestic exports (NODX) declined by 3.3% due to declines in both electronics and non-electronics exports – see table 1. Non-oil re-exports decreased by 1.5%, year-on-year, a reversal from the 9.9% growth in Dec 2019.

 

NODX to Singapore’s top 10 markets, with the exception of US (23.6%), China (14.7%), South Korea (19.4%) and Taiwan (5.2%), decreased in Jan, with Hong Kong (-40.9%), the EU 28 (-10.5%) and Indonesia (-22.6%) as the largest contributors to the decline. Meanwhile, NODX to emerging markets contracted by 14.7%. This is due mainly to decreases in exports to CLMV (-32.4%), Latin America (-38.0%), and South Asia (-11.4%).

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Note from Publisher
i Capital will pause its publication for one week in the week beginning 8 Apr. However, www.icapital.biz will be updated as usual. Apart from the public holidays, the operating hours of our Kuala Lumpur office will be as usual. Volume 35, number 32 of i Capital will henceforth be dated 18-24 Apr 2024.

Some people have accused i Capital and Tan Teng Boo of being pro-China and they are very uncomfortable with it. Well, according to a recent survey conducted by an independent think-tank in Singapore, for the first time since the survey was conducted, there are more people in ASEAN favouring China over the US – see this week’s write-up on Hong Kong for more. The shift in sentiment is not surprising given the US brazen hypocrisy, fondness of playing moral police, and forcing her views and values on others. In the past, small countries had to endure US bullying silently. Now, the rise of China has provided ASEAN and developing countries in general the courage to voice their dissatisfactions with the US. In the end, the truth always prevails.
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