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S’pore March export to Malaysia “contract 22%”

Posted on: April 15, 2009


Bernama – Tuesday, April 14

SINGAPORE, April 14 (Bernama) – Singapore’s non-oil domestic exports to Malaysia contracted by 22 per cent last month, following the 21 per cent decrease in February 2009.

The decline in the exports was led by decreases in both electronic and non-electronic exports, according to International Enterprise (IE) Singapore in its monthly trade report.

IE said electronic domestic exports to Malaysia decreased by 17 per cent in March 2009, following the 10 per cent contraction in the previous month.

The lower sales in electronic domestic exports was mainly due to reduced domestic exports of integrated circuits (-21 per cent), parts of personal computers (-24 per cent) and capacitors (-54 per cent).

Non-electronic exports to Malaysia decreased by 25 per cent in March, following the preceding month’s 29 per cent decline.

The contraction in non-electronic exports was mainly because of lower domestic exports of petrochemicals (-47 per cent), electrical machinery (-52 per cent) and iron or steel scrap (-89 per cent).

IE said Singapore’s overall non-oil domestic exports increased by 11 percent in March, after the previous month’s 1.6 per cent increase due to higher electronic and non-electronic exports.

But on an annualised basis, the exports decreased by 17 per cent last month, following the 24 percent decline in the preceding month, IE said.

It said the city-state’s total trade expanded by 0.4 per cent in March, following the 6.6 per cent increase in the previous month.

But on an annualised basis it declined by 24 per cent in March, following the 22 percent decrease in February.

IE said on yearly basis Singapore’s non-oil domestic exports to all of the top export markets, except China and Hong Kong, decreased in March 2009, with the United States, European Union and Japan being the largest contributors to the exports decline.

Citing the declining global trade environment, IE said the projection for Singapore’s total trade growth in 2009 had been revised downwards from between -19 and -17 per cent to between -25 and -22 per cent.

The forecast for non-oil domestic exports growth in 2009 had also been lowered to between -13 and -10 per cent, down from the previous projection of between -11 and -9 per cent, it added. — BERNAMA

ZAW SD

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