SINGAPORE, March 18 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
month mth/mth change year/year
(seasonally change %
Feb -2.4 -30.6
Jan -1.8 +0.4*
Dec -4.2 -16.3
For detailed exports data, see IE Singapore's website at www.iesingapore.com
- 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)