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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

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Singapore

Reuters  |  SINGAPORE 

An aerial view of shipping containers stacked at the port of Singapore. Photo: Reuters
An aerial view of shipping containers stacked at the port of Singapore. Photo: Reuters

(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 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: Fri, October 16 2020. 09:10 IST
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