Singapore Nov exports fall faster than expected

• Dec 17, 2018

SINGAPORE: Singapore’s non-oil domestic exports (NODX) growth fell more than expected in November with shipments to most of its major trading partners declining, official data showed on Monday.

Exports fell 2.6 percent in November year-on-year, data from the trade agency International Enterprise Singapore showed, falling sharply from the revised 8.2 percent rise the month before.

This was weaker than the 1.2 percent increase predicted by economists in a Reuters poll.

On a seasonally adjusted month-on-month basis, exports contracted 4.2 percent in November after growing 4.2 percent in October. The poll predicted a 0.6 percent expansion from the month before.

Trade to top markets like China, Indonesia and Europe declined. Exports to China fell 16 percent in November from a year earlier, compared with the previous month’s 25.8 percent decline.

Electronics exports rose 4.5 percent in November from the year earlier, recovering from the 3.6 percent contraction seen in October.

Exports of pharmaceuticals however rose 8.4 percent in November, slowing significantly from the 89.7 percent surge seen in the previous month. – Reuters

Source: https://www.thestar.com.my/business/business-news/2018/12/17/singapore-november-exports-fall-faster-than-expected/#irXsQVt0u6L7dVzp.99