March 14, 2018 / 7:26 AM / 3 months ago

Singapore February exports seen 4.4 percent up from a year earlier: Reuters poll

SINGAPORE (Reuters) - Singapore’s non-oil domestic exports likely rose in February from a year ago, although the rate of growth was probably dampened by the Lunar New Year holiday, a Reuters poll showed.

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

Non-oil domestic exports in February were expected to have risen 4.4 percent from a year earlier, according to the median forecast in the survey of 12 economists, down sharply from the 13 percent growth recorded in January.

Exports came under pressure as February had fewer business days with the Lunar New Year holidays in the middle of the month. Last year the holidays were in January.

Singapore’s annual exports had surged in January 2018 despite a decline in electronics shipments, thanks to a welcome jump in sales of petrochemical products.

On a month-on-month and seasonally adjusted basis, non-oil domestic exports were seen easing 0.3 percent in February, the poll found, after a 0.3 percent decline in January.

Reporting by Masayuki Kitano; Editing by Himani Sarkar

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