Singapore: Exports rebound in November
December 17, 2014
In November, non-oil domestic exports (NODX) increased 1.6% over the same month last year. The print contrasted the 1.5% drop tallied in October, but was notably below the 3.9% that markets had expected.
The result reflected a rise in non-electronic exports, which more than offset the decline in electronic overseas sales. According to International Enterprise (IE) Singapore, non-electronic exports expanded 7.5% in November, which contrasted the 0.5% fall recorded in October. Exports of electronic products tumbled 10.2% in November, which followed the 3.6% decline tallied in the previous month.
On a monthly basis, non-oil exports increased a seasonally-adjusted 2.9% in November, which was above the 1.1% expansion registered in October.
Author: Cecilia Simkievich, Economist