Singapore Trade November 2016


Singapore: Exports rebound strongly in November

December 17, 2016

In November, non-oil domestic exports (NODX) in Singapore grew 11.5% from the same month last year, contrasting October’s 12.0% fall. The result surprised vastly on the upside, beating market expectations of a 3.0% decrease and marked the highest result since March 2015.

November’s reading resulted from expansions in seven out of the country’s top ten export markets—all except Japan, Thailand and Indonesia. It reflected a strong expansion in shipments of non-electronic NODX and an increase in exports of electronic products. Exports of electronic products grew 3.5%, which contrasted the 6.0% contraction seen in the previous month. Meanwhile, non-electronic exports grew 15.3%, which strongly contrasted October’s 14.6% contraction.

On a month-on-month seasonally-adjusted basis, exports expanded 13.1% in November, which contrasted October’s 3.6% contraction.

FocusEconomics Consensus Forecast panelists see overall nominal exports expanding 1.4% in 2017, which would bring exports to a total of USD 353 billion. For 2018, the panel foresees exports growing 5.8% and reaching a total of USD 373 billion by the end of the year.

Author: Massimo Bassetti, Economist

Sample Report

Looking for forecasts related to Trade in Singapore? Download a sample report now.


Singapore Trade Chart

Singapore Trade November 2016

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

Singapore Economic News

More news

Search form