Topics

Posted 9/18/2023, 2:09:06 AM

Singapore Non-Oil Exports Plummet in August, Marking 11 Straight Months of Decline Amid Slowing Global Demand

Singapore's non-oil exports fell 20.1% year-on-year in August, continuing 11 straight months of decline.
Exports to the U.S., Europe and China all declined, showing stabilization not yet at hand.
Economists expect the central bank to keep policy unchanged due to weak growth and high inflation.
Non-oil exports fell 3.8% month-on-month in August after a 3.5% drop in July.
Singapore narrowed its 2022 growth forecast to 0.5-1.5% from 0.5-2.5% amid recession risks.

reuters.com

Relevant topic timeline:

8/17/2023

Japan exports fall for first time since 2021, stoking concerns about economy

Japan's exports fell in July for the first time in nearly 2-1/2 years, driven by weak demand for light oil and chip-making equipment and raising concerns about a global recession as the demand in key markets such as China weakens.

8/24/2023

Hong Kong economic woes continue as exports fall for 15th month in a row

Hong Kong's exports continue to decline for the 15th consecutive month, with a 9% decrease in July, due to trade contraction with mainland China, the US, and Europe, affecting the city's economic recovery and prompting a downgrade in GDP forecast.

8/29/2023

Trade War Winner Vietnam Sees Exports Drop For Sixth Month

Vietnam's exports have declined for the sixth consecutive month due to weaker global demand and China's deteriorating economic outlook, posing a risk to the country's GDP growth target.

8/30/2023

South Korea exports to extend downturn amid worsening China outlook: Reuters poll

South Korea's exports are likely to have fallen for the 11th consecutive month in August due to a slower Chinese economy and weakening demand in other regions.

9/4/2023

German exports fall less-than-expected 0.9% in July

German exports fell 0.9% in July, less than expected, due to global demand weakness and supply-chain friction.

9/7/2023

China's exports drop by 8.8% in August as trade slump persists

China's imports and exports experienced a monthly decline in August, with exports falling by 8.8% and imports falling by 7.3%, indicating ongoing challenges despite some slight improvement.

9/7/2023

China's Foreign Trade Remains Stable Despite Global Headwinds, Led by Resilient Exports and Trade With ASEAN

China's total import and export value in the first 8 months of this year slightly decreased by 0.1 percent compared to the previous year, but exports have continued to grow and the global market share remains stable, highlighting the overall stability of China's foreign trade operations.

9/16/2023

India's Exports Drop for 7th Month While Trade Deficit Widens on Crude Imports and Robust Domestic Demand

India's merchandise exports dropped by 6.9% in August, marking the seventh consecutive month of decline, due to weak external demand, while the merchandise trade deficit reached a 10-month high of $24.16 billion driven by higher crude oil prices and robust domestic demand.

9/19/2023

Japan's Exports to China Drop for 9th Straight Month Amid Weak Demand and Import Suspension

Japan's exports to China declined for the ninth consecutive month in August, dropping 11%, due to weak demand and the suspension of seafood imports following the Fukushima Daiichi nuclear plant incident.

9/29/2023

Economists Lower Growth Forecasts for Southeast Asia Due to Slowing China Exports and El Nino Weather

The growth forecasts for Malaysia, the Philippines, Singapore, and Thailand have been downgraded due to declining exports to China and other factors, according to a survey by the Japan Center for Economic Research and Nikkei.

10/1/2023

South Korea's Exports Show Signs of Recovery with Mildest Decline in 12 Months

South Korea's exports in September showed a milder decline than expected, indicating a hopeful sign for the global economy as the country experienced the mildest drop in a yearlong downturn.

10/2/2023

Japan Manufacturing Activity Slows Sharply Amid Weak Demand and Economic Uncertainty

Japan's factory activity fell at the fastest pace in seven months in September, as worsening global economic conditions weakened demand, with new export orders remaining in contraction for 19 consecutive months.

Topics

Posted 9/18/2023, 2:09:06 AM

Singapore Non-Oil Exports Plummet in August, Marking 11 Straight Months of Decline Amid Slowing Global Demand

Singapore's non-oil exports fell 20.1% year-on-year in August, continuing 11 straight months of decline.
Exports to the U.S., Europe and China all declined, showing stabilization not yet at hand.
Economists expect the central bank to keep policy unchanged due to weak growth and high inflation.
Non-oil exports fell 3.8% month-on-month in August after a 3.5% drop in July.
Singapore narrowed its 2022 growth forecast to 0.5-1.5% from 0.5-2.5% amid recession risks.

reuters.com

Relevant topic timeline:

8/17/2023

Japan exports fall for first time since 2021, stoking concerns about economy

8/24/2023

Hong Kong economic woes continue as exports fall for 15th month in a row

8/29/2023

Trade War Winner Vietnam Sees Exports Drop For Sixth Month

Vietnam's exports have declined for the sixth consecutive month due to weaker global demand and China's deteriorating economic outlook, posing a risk to the country's GDP growth target.

8/30/2023

South Korea exports to extend downturn amid worsening China outlook: Reuters poll

South Korea's exports are likely to have fallen for the 11th consecutive month in August due to a slower Chinese economy and weakening demand in other regions.

9/4/2023

German exports fall less-than-expected 0.9% in July

German exports fell 0.9% in July, less than expected, due to global demand weakness and supply-chain friction.

9/7/2023

China's exports drop by 8.8% in August as trade slump persists

China's imports and exports experienced a monthly decline in August, with exports falling by 8.8% and imports falling by 7.3%, indicating ongoing challenges despite some slight improvement.

9/7/2023

China's Foreign Trade Remains Stable Despite Global Headwinds, Led by Resilient Exports and Trade With ASEAN

9/16/2023

India's Exports Drop for 7th Month While Trade Deficit Widens on Crude Imports and Robust Domestic Demand

9/19/2023

Japan's Exports to China Drop for 9th Straight Month Amid Weak Demand and Import Suspension

9/29/2023

Economists Lower Growth Forecasts for Southeast Asia Due to Slowing China Exports and El Nino Weather

10/1/2023

South Korea's Exports Show Signs of Recovery with Mildest Decline in 12 Months

South Korea's exports in September showed a milder decline than expected, indicating a hopeful sign for the global economy as the country experienced the mildest drop in a yearlong downturn.

10/2/2023

Japan Manufacturing Activity Slows Sharply Amid Weak Demand and Economic Uncertainty