Singapore Oct non-oil exports down 1.5 per cent

Singapore Oct non-oil exports down 1.5 per cent

Singapore's non-oil domestic exports (NODX) fell 1.5 per cent last month on a year-on-year basis, in contrast to the 0.9 per cent growth in the previous month, due to a decrease in both electronic and non-electronic shipments, International Enterprise (IE) Singapore reported on Monday.


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SINGAPORE - Singapore's non-oil domestic exports fell 1.5 per cent in October from a year earlier, meeting expectations, with a sharp slowdown in shipments to China, official data showed on Monday.

International Enterprise Singapore (IE Singapore), the country's trade agency, released the trade data.

Percentage change October September Non-oil domestic exports (m/m*) 1.1 -8.8 Non-oil domestic exports (y/y) -1.5 0.9 - electronics -3.6 -4.0 - pharmaceuticals -4.2 8.1 - European Union 1.3 -3.6 - United States 0.0 1.1 - China 0.4 14.7 Non-oil domestic exports (S$ bln) 14.54 14.25 Non-oil re-exports (y/y) -5.4 4.2 Total trade (y/y) -6.2 -3.3 * m/m data is seasonally adjusted For detailed exports data, see IE Singapore's website at http://www.iesingapore.gov.sg.

Singapore's non-oil domestic exports (NODX) were forecast to have eased 1.5 per cent on an annual basis in October, a Reuters poll showed. On a month-on-month seasonally adjusted basis, NODX were seen up 0.2 per cent.

Exports in September rose 0.9 per cent on-year but fell 8.8 per cent on the month.

Singapore's non-oil exports tend to be volatile because a significant portion comprises pharmaceuticals and oil rigs that can vary sharply from month to month.

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