Non-oil domestic exports (NODX)

Manufacturing activity grew at a faster pace in August than the previous two months.

Singapore markets are down 4.7% for 3Q2020 and 23.4% down for the year 2020.

Higher global tech demand and stockpiling of key components ahead of US' restrictions on Huawei’s suppliers has boosted trade

Things are looking up for Singapore’s trade sector, with NODX expanding 7.7% in August 2020.

Official figures released by trade agency Enterprise Singapore (ESG) on August 17 pointed to a 6.0% growth in July, narrowing from the 13.9% expansion logged in June.

SINGAPORE (July 17): Defying expectations of a slowdown from the Covid-19 outbreak, Singapore’s non-oil domestic exports (NODX) reversed out of the red in June thanks to a low base from the year before.

Quoteworthy: "I cannot allow the gains we have all made to be squandered by processes that are not followed." –— Prime Minister Jacinda Ardern of New Zealand, after a 24-day case-free streak was broken.

SINGAPORE (June 17): The effects of the Covid-19 pandemic are weighing in on Singapore’s non-oil domestic exports (NODX) as the metric reversed into the red in May, after posting expansions in the preceding three months.

“While we expect manufacturing activity and external demand to pick up as global lockdowns are loosened, any rebound in activity is likely to be modest compared to the size of the fall in 2Q20,” notes Oxford Economics.

“There continues to be a significant degree of uncertainty over the length and severity of the Covid-19 outbreak, as well as the trajectory of the economic recovery in both the global and Singapore economies,” MTI cautioned.