SINGAPORE, Sept 18 (Reuters) - Singapore's annual exports fell for an 11th straight month in August as the trade-reliant economy continues to grapple with global headwinds on inflation and declining demand.
Singapore's non-oil domestic exports (NODX) fell 20.1% year-on-year in August, official data showed on Monday, as both electronics and non-electronics exports to the United States, Europe and China declined.
Economists are expecting the Monetary Authority of Singapore (MAS) to keep monetary policy unchanged in the policy review scheduled next month due to the weak growth and persistent inflation.
NODX to the United States contracted by 32.4% in August, after the 34.3% expansion in the preceding month, mainly due to the sharp decline in non-electronic exports.
Last month, Singapore narrowed its economic growth forecast to 0.5% to 1.5% this year from 0.5% to 2.5%, after it narrowly averted a recession in the second quarter when its economy expanded a seasonally-adjusted 0.1%.
Persons:
Brian Tan, it's, Tan, Chen Lin, Kanupriya Kapoor
Organizations:
Barclays, Authority of Singapore, MAS, Enterprise Singapore, Thomson
Locations:
SINGAPORE, United States, Europe, China, Singapore