Reuters logo
Singapore Feb exports in sharper-than-expected fall
March 18, 2013 / 12:35 AM / 5 years ago

Singapore Feb exports in sharper-than-expected fall

SINGAPORE, March 18 (Reuters) - International Enterprise
Singapore (IE Singapore), the country's trade agency, released
February 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) %     
    Feb           -2.4           -30.6
    Jan           -1.8           +0.4*
    Dec           -4.2           -16.3
 * revised
    
    For detailed exports data, see IE Singapore's website at www.iesingapore.com
 

    CONTEXT:
    - The fall in February non-oil domestic exports was partly
due to the Lunar New Year holiday starting on Feb. 10 this year,
unlike in 2012 when it began on Jan. 23.
    - Electronics exports fell 27.4 percent year-on-year in
February, while pharmaceutical shipments dropped 56.5 percent,
IE Singapore said.
    - Economists polled by Reuters had expected non-oil domestic
exports to fall 16 percent year-on-year but rise 4.5 percent
month-on-month after seasonal adjustments.
    - IE Singapore said exports of electronics expanded
month-on-month after seasonal adjustments but the rise was
offset by a contraction in non-electronics NODX. 
    - Non-oil domestic exports totalled S$13.2 billion ($10.6
billion) in February on a seasonally adjusted basis, down from
S$13.5 billion in January.
    - Singapore's 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 fell in February as
orders weakened, resuming a downturn that started in July last
year even as factories in the United States and South Korea
reported improving conditions, according to the city-state's
Purchasing Managers' index (PMI). 
($1 = 1.2482 Singapore dollars)

 (Reporting by Kevin Lim)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below