Singapore's September exports rise 5.9% y-o-y, slower than forecasts
Singapore's September non-oil domestic exports rose 5.9% from a year earlier, driven mainly by electronics shipments, official data showed on Friday, but were slower than forecasts
 "Singapore, singapore economy")
An aerial view of shipping containers stacked at the port of Singapore. Photo: Reuters
SINGAPORE (Reuters) - Singapore's September non-oil domestic exports (NODX) rose 5.9% from a year earlier, driven mainly by electronics shipments, official data showed on Friday, but were slower than forecasts.
That compared with a 7.7% increase in August, and lower than the 10.8% rise forecast by economists in a Reuters poll.
Exports of electronics jumped 21.4% from a low base a year ago.
On a seasonally adjusted month-on-month basis, exports contracted 11.3% in September after a 10.5% rise in the previous month, Enterprise Singapore said in a statement. The pace of drop was the steepest since March 2019.
Economists had forecast a 3% shrinkage.
(Reporting by Chen Lin; Editing by Muralikumar Anantharaman)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Oct 16 2020 | 9:10 AM IST