Singapore Trade


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.

FocusEconomics Consensus Forecast panelists see overall nominal exports expanding 2.0% in 2015, which would bring exports to a total of USD 446 billion. For 2016, the panel projects exports to grow 4.6%, for a total of USD 466 billion.

Author:, Economist

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Singapore Trade Chart

Singapore Trade November 2014 0

Note: Year-on-year and seasonally-adjusted month-on-month variation of non-oil domestic exports in %.
Source: Statistics Singapore (Singstat) and FocusEconomics calculations.

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