Singapore: Exports continue to fall in September
October 17, 2012
In September, non-oil domestic exports (NODX) fell 3.4% over the same month last year. The figure followed the revised 10.7% drop seen in August (previously reported: -10.6% year-on-year) and contrasted market expectations of a 1.2% increase. Non-electronic exports rebounded from a 10.5% decline observed in August to a 4.2% expansion in September. On the other hand, electronic exports fell 16.4% in September (August: -11.0% yoy). A month-on-month comparison does not corroborate the contraction seen in the annual figures, as exports rebounded and rose a seasonally adjusted 1.6%, which contrasted the 9.1% decline seen in August.