Singapore exports fall for 6th month

• Sep 17, 2019

SINGAPORE: Singapore’s exports in August shrank for the sixth straight month, but the drop was less than analyst forecasts, official data showed on Tuesday.

Non-oil domestic exports (NODX) last month fell 8.9% year-on-year as electronics shipments fell 25.9%, data from the trade agency Enterprise Singapore showed, compared with a revised 11.4% decrease in July.

A Reuters poll had forecast a 12.2% contraction for August.

On a seasonally adjusted month-on-month basis, exports rose 6.7% in August after the previous month’s revised 3.5% increase. The poll had called for a 2.5% rise from the month before.

NODX to most of Singapore’s top markets fell in August, except for China to which it rose 38.5%.- Reuters