Economic calendar in Asia for Monday, 18 December 2023 – New Zealand and Singapore data | Forexlive
It’s a light data agenda to open the week on Monday in Asia:
At 2130 GMT (1930 uste1630 US Eastern time) is New Zealand services PMI for November, prior was 48.9
At 0030 GMT (1930 US Eastern time) is Singapore Non-oil Domestic Exports (NODX) data for November
- forecasts are +0.2% and +2.3% y/y
- October’s readings were +3.4% m/m and -3.4% y/y
Singapore Non-oil Domestic Exports (NODX) measures the value of goods exported from Singapore excluding oil and petroleum products.
- an important gauge of Singapore’s external trade performance, especially for the manufacturing and export sectors
- covers a wide range of products, including electronics, chemicals, pharmaceuticals, machinery, precision engineering goods, and more
- growth in NODX indicates an increase in exports, which can boost economic activity and contribute to GDP growth
- a decline in NODX suggests a slowdown in export demand and may signal weaker economic conditions
- factors influencing NODX include global economic conditions, changes in international demand for Singaporean goods, fluctuations in exchange rates, shifts in global supply chains, and changes in government policies related to trade
Singapore is heavily reliant reliance on international trade. It’s a small and open economy where exports play a significant role in driving economic growth and employment.