SINGAPORE, March 17 (Reuters) - Singapore’s exports rose unexpectedly on a year-on-year basis in February due to an increase in shipments of electronics and sepcialised machinery, official data showed on Tuesday.
Non-oil domestic exports from the city-state grew 3% year-on-year, data from trade agency Enterprise Singapore showed, following a 3.3% drop in January.
This was better than the 7.8% decline predicted by economists in a Reuters poll.
On a seasonally adjusted month-on-month basis, exports fell 4.8% in February after a 4.5% rise in the prior month. The poll had called for a -3.8% contraction from the month before.
Electronic exports increased by 2.5% in February, after a 13.0% contraction in the previous month. Shipments of specialised machinery spiked 74.1% from a low base last year. (Reporting by Aradhana Aravindan in Singapore; Editing by Himani Sarkar)