Chart of the Day: Check out how Singapore's shipments to key markets declined in September

Biggest drop was seen in Malaysia at -12.3%.

Singapore trade had been on rough seas in September, as non-oil domestic exports (NODX) in seven of 10 key markets posted declines.

According to a report by Maybank KimEng, shipments to Malaysia saw the biggest drop at -12.3%, following a 1.9% improvement in August. This is on the back of lower shipments of integrated circuits (ICs), petrochemicals, and computer parts.

Exports to Indonesia reflected the second biggest drag, falling further by 16.1% from a contraction of 8.5% in August. Shipments in Indonesia has seen a 14th consecutive month of contraction, primarily due to lower petrochemicals, primary chemicals and engineering equipment parts haul.

The city-state's trade has also seen declines in shipments to the United States.

"Shipments to the US which made up 9% of NODX was down by -7.2% month as it was affected by weakness in shipments of aircraft parts, non-electric engines & motors and ICs," the brokerage firm noted.

Declines were also seen in Japan, Thailand, China, India and Taiwan.

It was only in Hong Kong, EU and South Korea where trade recorded an upturn.

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