Non-oil domestic exports surge 5.1% in August

This figure comes as a surprise, especially amidst worsening economic conditions.

However, downside risk to growth remains as key electronics has continued to slump and even pharmaceutical sales were down by 7.1%, according to DBS’ report.

Here’s more from DBS:

August non-oil domestic export figures released this morning surprised with a solid 5.1% YoY, up from a decline of 2.8% in the previous month. While we do not discount the fact that economic conditions are worsening with the deteriorating sentiments, this set of figure is most encouraging given the exceptionally high base and negative currency effects.

Essentially, August 2010 recorded the second highest NODX value of SGD 15.8bn in the entire year and that’s a significant high base to contemplate. Concomitantly, the Sing dollar has also appreciated by about 11% in the last 12 months. And that’s a huge negative currency effect as well. So, with an extremely high base and a big negative effect, it is certainly a pleasant surprise that NODX posted a positive expansion.

However, the heart of the issue lies in the sequential change and on that, a robust 8.3% MoM sa was reported. That said, the twist to the story lies in the fact that this rosy set of figures came on the back of a one-off surge in ships/boats and optical apparatus. Key electronics has continued to slump (-19.4%) and even pharmaceutical sales was down by 7.1%. As such, while this set of NODX figures may calm some nerves, downside risk to growth remains.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia