Singapore: Exports contract in October
November 17, 2014
In October, non-oil domestic exports (NODX) decreased 1.5% over the same month last year. The print contrasted the 0.9% expansion recorded in September, but was slightly up from the 1.6% decline that markets had expected.
The result reflected a decrease in both electronic and non-electronic exports. According to International Enterprise (IE) Singapore, non-electronic exports contracted 0.5% in October, which contrasted the 3.0% expansion tallied in September. Meanwhile, exports of electronic products fell 3.6%, which was slightly up from September’s 4.0% decline.
A month-on-month comparison, however, showed that exports increased a seasonally-adjusted 1.1% in October and contrasted the 8.8% decline tallied in September.
Author: Cecilia Simkievich, Economist