Singapore’s non-oil domestic exports declined unexpectedly in November, data from the International Enterprise Singapore showed Thursday.
NODX fell 3.3 percent year-over-year in November, confounding economists’ expectations for a 1.6 percent increase. In October, non-oil domestic exports showed no variations.
The annual decrease in November was caused by a contraction in non-electronic NODX which outweighed the increase in electronic NODX, the agency said.
Exports of electronic products grew 0.7 percent in November, reversing a 3.2 percent decrease in October. Economists had expected a 5.2 percent gain for the month.
The growth in electronic domestic exports was largely due to telecommunications equipment, other computer peripherals and diodes and transistors.
At the same time, shipments of non-electronic products slipped 5.1 yearly in November, in contrast to a 1.4 percent rise in the preceding month.
On a monthly basis, NODX slid a seasonally adjusted 3.8 percent in November, much faster than the 0.3 percent fall in October.
The material has been provided by InstaForex Company – www.instaforex.com