Singapore's May exports down 0.1% y/y, better than forecast


A container vessel is docked at the port in Singapore. — AFP

SINGAPORE: Singapore's non-oil domestic exports edged down 0.1% in May from the same month a year earlier, data on Tuesday showed, with electronics exports growing for a second straight month, Enterprise Singapore said in a statement.

The almost flat result compared with a Reuters poll forecast of a 1.0% fall, and followed a downwardly revised 9.6% drop in April.

On a month-on-month seasonally adjusted basis, non-oil exports decreased by 0.1% in May after a 7.3% increase in April.

Electronic exports expanded by 21.9% in May, compared to 3.3% in April, posting the first double-digit growth in 22 months, according to Enterprise Singapore.

Non-oil exports to Singapore's top markets as a whole grew in May.

The biggest jump was the 73.4% expansion to Hong Kong due to an increase in exports of integrated circuits, non-monetary gold and personal computers. - Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Singapore , oil , export

   

Next In Business News

Oil settles down on weaker US consumer sentiment
China’s exports top forecasts but falling imports point to more stimulus
Lessons from Malaysia’s Silver State
UK emerges as haven from global storms
Empowering SMEs in their digital transformation
Holistic approach to developing data centres
Sunview gains momentum on booming solar sector
Carbon tax conundrum
Robust plans needed to spur high-skilled jobs
Synergy House brings innovation to the table

Others Also Read