Key exports rose 2.7% year on year in September, below market forecast and slowing from the previous two months. — The Straits Times
SINGAPORE: Singapore’s key exports expanded year-on-year for a third straight month in September but at a slower pace, according to figures released by Enterprise Singapore yesterday.
Non-oil domestic exports (NODX) rose 2.7% from a year ago, after increasing by 10.7% in August and 15.7% in July.
But September’s expansion came in far below the expectations of analysts polled by Bloomberg, who tipped growth to hit 9.1%.
The data showed shipments of both electronics and non-electronics grew.
Electronic exports rose 4% in September, down from the 35.1% expansion in the previous month.
Disk media products rose by 64.6%, while personal computers saw growth of 55%.
Integrated circuits – also known as chips or semiconductors – inched up by 4.8%.
Meanwhile, non-electronic shipments grew 2.3%, after the 3.6% rise in the previous month.
Pharmaceuticals expanded 35%, while specialised machinery grew 12.9%.
Other speciality chemicals rose 46.2%. On a month-on-month seasonally adjusted basis, NODX increased by 1.1% in September, reversing the decline of 4.7% in the previous month.
Non-electronics grew while electronics decreased. — The Straits Times/ANN
