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Singapore Jan non-oil domestic exports edge up from year ago
February 18, 2013 / 12:31 AM / in 5 years

Singapore Jan non-oil domestic exports edge up from year ago

SINGAPORE, Feb 18 (Reuters) - International Enterprise
Singapore (IE Singapore), the country's trade agency, released
January trade data on Monday.
    Following are the changes in Singapore's non-oil domestic
export (NODX):
    
   month     mth/mth change    year/year
                (seasonally    change %
             adjusted) %     
    Jan           -1.8           +0.5
    Dec*          -4.2           -16.3
    Nov*          +1.5           -2.6
 * month on month changes were revised
    
    For detailed exports data, see IE Singapore's website at www.iesingapore.com
 

    CONTEXT:
    - The rise in January non-oil domestic exports was led by
printed matter (up 499.5 pct), petrochemicals (up 28.2 pct) and
non-monetary gold (up +53.1 pct), IE Singapore said.
    - January exports were aided by the Lunar New Year holiday
beginning on Feb 10 this year unlike in 2012 when it began on
Jan 23.
    - Economists polled by Reuters had expected non-oil domestic
exports to rise 3.3 percent year-on-year and 9.6 percent
month-on-month after seasonal adjustments.
    - Electronics exports fell 5.6 percent year-on-year in
January, while pharmaceutical shipments contracted by 22.9
percent, IE Singapore said.
    - Non-oil domestic exports to the EU fell 18.4 percent
year-on-year and 29.3 percent month-on-month after seasonal
adjustments.
    - Non-oil domestic exports totalled S$14.15 billion ($11.43
billion)in January, up from S$13.19 billion in December.
    - Singapore's monthly exports tend to be unpredictable
because a significant portion involves inputs for
pharmaceuticals and oil rigs, which can vary sharply from month
to month.
    - Manufacturing activity in Singapore rose in January after
contracting for six consecutive months, the city-state's
Purchasing Managers' index (PMI) showed earlier in the month,
helped by an expansion in new orders. 
    - The electronics industry, which has been in the doldrums,
also saw a pickup in orders, although the overall PMI for the
sector remained below the 50-point level that separates
expansion from contraction.
($1 = 1.2376 Singapore dollars)

 (Reporting by Kevin Lim; Editing by Shri Navaratnam)

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