SINGAPORE - Singapore's non-oil domestic exports fell more than expected in January from a year earlier as contraction in shipments to China deepened and sales to the United States declined, official data showed on Wednesday.
International Enterprise Singapore (IE Singapore), the country's trade agency, released the trade data.
Non-oil domestic exports (y/y) -9.9 -7.2
Non-oil domestic exports (m/m*) 0.7 -2.6
- electronics -0.6 -0.3
- pharmaceuticals 6.9 -9.9
- China -25.2 -18.7
- United States -5.1 12.8
- European Union 14.3 -2.9
Non-oil domestic exports (S$ bln) 12.30 12.85
Non-oil re-exports (y/y) -12.0 0.8
Total trade (y/y) -14.4 -8.4
* 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 exports tend to be volatile because a significant portion comprises pharmaceuticals and oil rigs that can vary sharply from month to month.