SINGAPORE, Oct. 17 (Xinhua) -- Singapore's domestic exports of electronic products decreased by 0.9 percent year-on-year in September, following a 1.5-percent decrease in August.
This is the tenth straight month for the city-state to see decline in its electronic domestic exports.
Enterprise Singapore, a government agency that champions enterprise development, said on Wednesday that the exports of personal computers, diodes and transistors, and parts of integrated circuits contributed the most to the decrease, which declined by 22.7 percent, 22.5 percent and 41.7 percent respectively.
Though the downward momentum continued, the pace of the decline appeared to be slowing, said Selena Ling, OCBC Bank's Head of Treasury Research and Strategy. She added that the bank "did not see a sharp uptick ahead, nevertheless, the domestic electronics cycle may have bottomed."
Ling's view was supported by the recent released statistics. Singapore Institute of Purchasing and Materials Management (SIPMM) announced earlier this month that the PMI of Singapore's electronics industry was 51.4 in September, marking the 26th month of consecutive expansion of the industry.
Enterprise Singapore also said on Wednesday that the non-electronic domestic exports of Singapore in September grew by 11.9 percent year on year, following the 7.8 percent increase in August. The country's non-oil domestic exports (NODX) grew by 8.3 percent year-on-year in September, due to the growth in non-electronic NODX which outweighed the decline in electronics.
