Singapore's Nov exports slide 5.9%, in line with forecasts

Non-oil domestic exports (NODX) from the city-state contracted 5.9% last month from a year ago, data from the trade agency Enterprise Singapore showed. That followed a revised 12.5% slump in October and was in line with projections by 10 economists in a Reuters poll

SINGAPORE: Singapore's exports fell again in November pressured by an extended decline in electronics and pharmaceutical shipments, official data showed on Tuesday.

Non-oil domestic exports (NODX) from the city-state contracted 5.9% last month from a year ago, data from the trade agency Enterprise Singapore showed. That followed a revised 12.5% slump in October and was in line with projections by 10 economists in a Reuters poll.

On a seasonally adjusted month-on-month basis, exports grew 5.8% in November after falling a revised 3.1% the month before. The poll had predicted a 4.2% gain.

The annual decline was mainly due to a contraction in electronics and pharmaceutical shipments.

Electronics exports fell 23.3% in November from the year ago, after slipping 16.4% in October, while pharmaceutical shipments slumped 16.3% having contracted 36% the previous month. - Reuters