S’pore’s Nov exports growth slows down, but above expectations
A bird's-eye view of ships along the coast in Singapore. Reuters file photo
SINGAPORE — The Republic’s non-oil domestic exports (NODX) in November grew 9.1 per cent, easing significantly from the robust 20.5 per cent growth seen in October, data from trade agency International Enterprise Singapore showed on Monday (Dec 18).
Economists in a Reuters poll had expected last month’s NODX to register a 5.5 per cent year-on-year increase, due to effects of a high base last year and a cooling in sales of electronics.
For November, electronic exports increased 5.2 per cent, following October’s growth of 4.5 per cent. Exports of integrated circuits, disk media products and other computer peripherals contributed to the growth.
Non-electronic products also saw an increase in shipments by 10.6 per cent in November, following the 28.1 per cent expansion in the previous month.
Singapore’s exports to the top 10 markets increased last month, with the exception from Hong Kong and Taiwan. The largest contributors to the NODX growth were China, South Korea and the United States.
