November 18, 2019 / 2:35 AM / 19 days ago

Singapore exports shrink for eighth month, miss estimates

Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019. REUTERS/Edgar Su/Files

SINGAPORE (Reuters) - Singapore’s exports in October shrank for the eighth straight month and were worse than analysts’ expectations as shipments of electronics continued to slide, official data showed on Monday.

Non-oil domestic exports (NODX) last month fell 12.3% year-on-year, compared with a drop of 8.1% in September, data from the trade agency Enterprise Singapore showed. A Reuters poll had forecast shipments to fall 10.4%.

On a seasonally adjusted month-on-month basis, exports fell 2.9% in October after a drop of 3.3% in the previous month. The poll had predicted an increase of 1.4%.

Electronics shipments fell 16.4% year-on-year in October.

Reporting by Aradhana Aravindan in Singapore; Editing by Clarence Fernandez

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