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Singapore September exports fall 4.8 percent, better than forecasts
October 17, 2016 / 2:47 AM / a year ago

Singapore September exports fall 4.8 percent, better than forecasts

SINGAPORE (Reuters) - Singapore’s exports in September fell less than expected as a decline in shipments to China moderated and sales to Europe rebounded, but the outlook for the trade-dependent economy remained grim on sluggish global demand.

An aerial view of shipping containers stacked at the port of Singapore February 14, 2012. REUTERS/Edgar Su/File Photo

Non-oil domestic exports last month slid 4.8 percent from a year earlier, the trade agency International Enterprise Singapore (IE Singapore) said in a statement on Monday.

The median forecast in a Reuters poll was for a 6.0 percent contraction.

In August, overseas sales stalled with shipments to the United States picking up and exports to China falling less than the previous month.

On a month-on-month, seasonally adjusted basis, non-oil domestic exports increased 2.4 percent in September, IE Singapore said, beating a forecast 1.5 percent expansion in the survey.

Reporting by Jongwoo Cheon; Editing by Kim Coghill

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