Singapore’s non-oil domestic exports increased unexpectedly in February, due to an expansion in both electronic and non-electronic NODX, data from the International Enterprise Singapore showed Thursday.
NODX climbed 2.1 percent year-over-year in February, confounding economists’ expectations for a 0.8 percent drop. In January, non-oil domestic exports had fallen sharply by 10.1 percent.
Exports of electronic products went up 0.7 percent annually in February, reversing 0.6 percent decrease a month ago. However, it was much slower than the 5.7 percent spike expected by economists.
The rise in electronic domestic exports was largely due to disk media products, telecommunications equipment and PC’s .
Similarly, shipments of non-electronic products expanded by 2.7 percent in February, in contrast to the 14.1 plunge in the prior month.
On a monthly basis, NODX declined a seasonally adjusted 4.1 percent in February from January, when it grew by 0.6 percent.
The material has been provided by InstaForex Company – www.instaforex.com