Singaporean non-oil domestic exports likely to have dropped at moderate pace in June

Singaporean non-oil domestic exports data is due tomorrow. According to a DBS Bank research report, the NODX is likely to have dropped at a moderate rate of 1.3 percent on a year-on-year basis in June. This would be a considerable rebound from the sharp fall of 15.9 percent recorded in the prior month. The shocking fall in the prior month was mainly due to an exceptionally high base effect.

Many have overlooked the 6.2 percent sequential growth in the same month. June’s figure would be most reflective of the challenges on the external front in the midst of the effect from the trade war.

“While electronics could continue to remain the key drag, non-electronics products may hold up. The outlook, though not as sanguine, aren’t that dire either”, added DBS Bank.