Singapore non-oil exports plummet 20% in March

[Byebye Penis]

Singapore non-oil exports plummet 20% in March
https://www.wsj.com/economy/trade/s...tic-exports-slump-more-than-expected-06be1ea1

Singapore's non-oil domestic exports slumped in March, sliding more than expected and continuing a bumpy start to the year.

 

[ChinaCommunistSG]

The real economy generator is not non oil domestic export but money laundering

 

[laksaboy]

The real economy generator is not non oil domestic export but money laundering

And once that special arrangement as a money laundering hub is suddenly gone, expect the economy to freefall.

By the way, those 'safe and effective' Covid vaccines are considered non-oil exports, no? Proudly made in SG.

BioNTech buys Novartis plant in Singapore, will retrofit for mRNA vaccine production​

Nov 14, 2022
https://www.fiercepharma.com/manufa...ngapore-will-retrofit-mrna-vaccine-production

 

[k1976]

TUN Powell Signals Rate-Cut Delay After Run of Inflation Surprises​

• Fed chair said appropriate to give policy further time to work
• Central bank can keep rates steady for ‘as long as needed’

Tun Powell Says Fed Policy Will Likely Need More Time to Work
Unmute




TUN Powell Says Fed Policy Will Likely Need More Time to Work
By Craig Torres
April 17, 2024 at 1:38 AM GMT+8
Updated on
April 17, 2024 at 2:58 AM GMT+8

Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings.

TUN Powell pointed to the lack of additional progress made on inflation after the rapid decline seen at the end of last year, noting it will likely take more time for officials to gain the necessary confidence that price growth is headed toward the Fed’s 2% goal before lower borrowing costs.
https://www.bloomberg.com/tips/

 

[k1976]

https://www.imf.org/en/Blogs/Articl...ries-feel-same-pinch-of-higher-interest-rates


IMF Blog for killing times or go pangsai

 

[GOD IS MY DOG]

Singapore non-oil exports plummet 20% in March
https://www.wsj.com/economy/trade/s...tic-exports-slump-more-than-expected-06be1ea1

Singapore's non-oil domestic exports slumped in March, sliding more than expected and continuing a bumpy start to the year.

hopefully plunge by 90% by year-end.................keep artificially boosting the SGD some more lor................when other countries wanna weaken their currencies............

 

[k1976]

hopefully plunge by 90% by year-end.................keep artificially boosting the SGD some more lor................when other countries wanna weaken their currencies............

https://www.channelnewsasia.com/sin...rtite-guideslines-employers-employees-4266831


Flexible Work Arrangements to the rescue...heng ong huat lah

 

[k1976]

Singapore’s key exports tumble 20.7% in March, worse than expected

Tessa Oh​

Published Wed, Apr 17, 2024 · 08:30 AM

The March figure marks a steeper contraction from February's 0.2 per cent fall. PHOTO: YEN MENG JIIN, BT
Singapore Nodx

SINGAPORE’S key exports shrank 20.7 per cent year on year in March, dragged down by a decrease in the non-electronics sector, data from Enterprise Singapore (EnterpriseSG) showed on Wednesday (Apr 17).

The March figure marked a steeper contraction from February’s 0.2 per cent fall, and was worse than the 7.4 per cent contraction that private-sector economists polled by Bloomberg were expecting.

Both electronics and non-electronics exports recorded declines.

On a seasonally adjusted monthly basis, non-oil domestic exports (NODX) fell 8.4 per cent in March, extending the previous month’s 4.9 per cent contraction.

 

[k1976]

The steeper-than-expected contraction was exacerbated by a “very unfavourable base effect”, noted Barclays economist Brian Tan.

Excluding historically volatile and “lumpy” components – such as non-monetary gold and pharmaceuticals – Tan estimates that core NODX contracted by just 1.4 per cent. This figure is still dragged down by unfavourable base effects, but more moderate than the headline figure, he added.

On a seasonally adjusted basis, key exports’ value reached S$13 billion, down from S$14.2 billion the month prior. It is lower than the year-ago level of S$15.7 billion in March 2023, as well as the 2023 average of S$14.5 billion.

 

[k1976]

Electronics exports slipped 9.4 per cent in March, reversing the previous month’s 5.2 per cent growth. Telecommunications equipment (-38.8 per cent), integrated circuits (-8 per cent), as well as diodes and transistors (-11 per cent) contributed most to the decline.

Noting that the decline was “not particularly sharp”, Tan said Barclays’ base case remains for the semiconductor upcycle to eventually impart a stronger lift to exports.

Non-electronics shipments shrank 23.2 per cent from the year-ago period, extending the 1.7 per cent decline in February.

Contributing most to the drop were pharmaceuticals (-70.3 per cent), structures of ships and boats (-99.8 per cent), as well as non-monetary gold (-49.1 per cent).

NODX to Singapore’s top markets as a whole contracted in March, led by the United States (-50.2 per cent), the European Union (-45.4 per cent) and Japan (-36.5 per cent).

 

[k1976]

In contrast, exports to top markets such as China (11.9 per cent), Hong Kong (16.5 per cent) and Taiwan (2 per cent) grew. Meanwhile, NODX in all the other top markets tracked – Malaysia, South Korea, Thailand and Indonesia – declined.

Overall, total trade fell 1.8 per cent in March, reversing from the 3.5 per cent growth in February. Total exports declined by 3.4 per cent, while total imports decreased by 0.1 per cent. In February, total exports expanded 1.7 per cent, while total imports grew 5.6 per cent.

On a seasonally adjusted monthly basis, however, total trade gained 2.2 per cent in March, turning around from February’s 0.5 per cent decline.

On a seasonally adjusted basis, the level of total trade reached S$106.9 billion, more than the preceding month’s S$104.5 billion. Total exports rose 0.9 per cent, and imports grew 3.7 per cent.

In February, EnterpriseSG upgraded its full-year forecast for NODX, tipping key exports to grow 4 to 6 per cent year on year. The agency projected “modest growth” for the year ahead and a recovery in electronics.

 

[millim6868]

Lol,70% gong kia still want papigs to run ,so that their ec,condo n pigeon holes to worth millions,lol

 

[Byebye Penis]

hopefully plunge by 90% by year-end.................keep artificially boosting the SGD some more lor................when other countries wanna weaken their currencies............

our export is still strong because of petrochemicals, pharmaceuticals and semi con.

otherwise, smaller chemicals, manufacturing and import/export sector are unwinding because of high overheads - transport, overheads, labour, etc. They spoke to ES and ES told them that they must accept that our industrial properties, labour and transport costs will continue to be high.

the next wave will hit the petrolchemicals industry which will face 10x increase in carbon tax by 2030.

 

[nabeifuckpap]

Lol,70% gong kia still want papigs to run ,so that their ec,condo n pigeon holes to worth millions,lol

Laolan Wong already said HDB reach 99 years become $0 Kosong

 

[eatshitndie]

every entitled sinkie pussy and beta male stopped work to attend swiftie concert?

 

[birdie69]

every entitled sinkie pussy and beta male stopped work to attend swiftie concert?

So many MP, minister of state, 2nd ministers, ministers in PM OFFICE, Mayors, in a small tiny country, and yet business operating cost is so high, how to be competitive?

 

[birdie69]

Lol,70% gong kia still want papigs to run ,so that their ec,condo n pigeon holes to worth millions,lol

Still fighting for 4 days work week, flexible working hours

 

[bobby]

Sinkies laugh about other countries’ currencies depreciating but now the whole world laugh at their exports….

 

[k1976]

Laolan Wong already said HDB reach 99 years become $0 Kosong

Moi will be 125yrs old liao

 

[eatshitndie]

So many MP, minister of state, 2nd ministers, ministers in PM OFFICE, Mayors, in a small tiny country, and yet business operating cost is so high, how to be competitive?

and over 369k maids who actually define the “work from home” phenomenon.