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Feature Articles

Singapore's Recent Exports: The Bright Spots

11 August 2009

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The global economic crisis has caused large contractions in Singapore’s domestic exports to almost every market…

Singapore’s exports are diversified across many markets, including both developed and developing economies (Exhibit 1). However, with the synchronous collapse of global trade arising from the current global economic crisis, Singapore’s domestic exports to all of her key trading partners have, at some point, contracted by at least 30 per cent in year-on-year terms (Exhibit 2).

Nevertheless, domestic exports of furniture, fashion, food, and transport equipment have held up…

While exports have declined across markets, exports of some products have actually increased. Exhibit 3 compares product categories whose exports have increased the most1in the first half of 2009 (January to June) compared to the same period in 2008. They include exports of furniture materials, fashion, food, and transport equipment.

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