SG Morning Call｜Singapore’s Key Exports Slid 1.5%; Passenger Car COEs Rocket By up to S$27,000

TigerNews SG01-18

Singapore’s Key Exports Down 1.5% in December, Reversing Previous Month’s Growth

Singapore’s non-oil domestic exports (NODX) shrank 1.5 percent year on year (yoy) in December, following a continued decline in electronics exports, data from Enterprise Singapore (EnterpriseSG) showed on Wednesday (Jan 17).

The December figure was a reversal of the previous month’s 1 percent rise, and in contrast with the 3 percent growth that private-sector economists polled by Bloomberg were expecting.

The contraction was unexpected, said private-sector economists, who had generally been expecting NODX to post positive growth for December due to the low year-ago base.

Passenger Car COEs Rocket By up to S$27,000 After Recent Lows and Motorshow Demand

Prices for passenger car Certificates of Entitlement (COEs) shot back up in January’s second round of bidding, spurred by demand generated by the Singapore Motorshow and recent lows seen in January’s first round of bidding.

Category B saw the largest increase, shooting up 31.7 percent or S$26,990 to S$112,000.

Category B is reserved for larger or more powerful cars with engines of more than 1,600 cubic centimetres (cc) in capacity or more than 97 kilowatts (kW), or for electric vehicles (EVs) with more than 110 kW.

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Comments

  • Success88
    01-18
    Success88
    COE price increase mainly due to the recent Motor show. In the next few month will see some drop in demand. Eventually this will bring the COE price go down. 
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