September 17, 2012 / 12:31 AM / 5 years ago

Singapore Aug non-oil exports worse than expected

SINGAPORE, Sept 17 (Reuters) - International Enterprise
Singapore (IE Singapore), the country's trade agency, released
August 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) %     
    Aug           -9.1           -10.6
    Jul           -3.6           5.7*
    Jun           6.7            6.5*
    May           -2.2            3.1
    Apr           6.4             1.7
    Mar          -16.8           -4.3
    Feb           7.1            30.3
 * revised data    
    For detailed exports data, see IE Singapore's website at www.iesingapore.com
 

    CONTEXT: 
    - Electronics exports fell 11.0 percent year-on-year and
pharmaceutical shipments fell 3.2 percent year-on-year, IE
Singapore said.
    - Economists polled by Reuters had expected exports to fall
a seasonally adjusted 1.8 percent month-on-month and 4.0 percent
year-on-year.
    - Non-oil domestic exports totalled S$14.662 billion ($12.02
billion) in August compared with a revised S$15.159 billion
($12.43 billion) in July.
    - Non-oil domestic exports to the European Union plunged
28.7 percent from a year earlier, while those to China fell 4.4
percent. Shipments to the United States edged up 0.7 percent.
    - Singapore's trade-reliant economy shrank less than earlier
anticipated in the second quarter, thanks to a surge in
pharmaceutical production in June, according to detailed GDP
data last month.
    But the government warned of continued uncertainties and
downside risks and narrowed its 2012 growth forecast to 1.5 to
2.5 percent from an earlier 1-3 percent. 
($1 = 1.2195 Singapore dollars)

 (Reporting by Kevin Lim; Editing by John O'Callaghan)

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