Singapore's total trade down 2.8% in Q3

Total trade forecast for 2012 was revised downwards.

International Enterprise Singapore reported:

The third quarter of 2012 saw a deceleration of total trade and NODX growth. On a year-on-year (y-o-y) basis, Singapore’s total trade declined by 2.8 per cent in 3Q 2012, after the previous quarter’s 2.9 per cent expansion.

Non-oil domestic exports (NODX) contracted y-o-y by 3.2 per cent in 3Q 2012, in contrast to the previous quarter’s 3.7 per cent growth.

Total trade and NODX forecast for 2012 are revised downwards to between 3.0 and 4.0 per cent and between 2.0 and 3.0 per cent respectively.

In 2013, total trade is expected to grow by between 3.0 and 5.0 per cent while NODX is expected to grow by between 2.0 to 4.0 per cent.

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