Singapore: Exports rebound in October
November 16, 2012
In October, non-oil domestic exports (NODX) rose 7.9% over the same month last year. The figure contrasted the revised 3.6% drop seen in September (previously reported: -3.4% year-on-year) and was above market expectations of a 3.1% increase. As a result, in the 12 months up to October, exports expanded 3.1% over the same period the previous year (September: +0.9% yoy). Non-electronic exports expanded 12.7% in October (September: +3.9% yoy), whereas electronic exports fell 0.8% (September: -16.6% yoy). A month-on-month comparison does not corroborate the expansion seen in the annual figures, as exports swung from a seasonally adjusted 1.3% expansion in September to a 1.2% decline in October.