Singapore September exports rise 5.9% y/y, slower than forecasts

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

SINGAPORE (Reuters) - Singapore’s September non-oil domestic exports (NODX) rose 5.9% from a year earlier, driven mainly by electronics shipments, official data showed on Friday, but were slower than forecasts.

That compared with a 7.7% increase in August, and lower than the 10.8% rise forecast by economists in a Reuters poll.

Exports of electronics jumped 21.4% from a low base a year ago.

On a seasonally adjusted month-on-month basis, exports contracted 11.3% in September after a 10.5% rise in the previous month, Enterprise Singapore said in a statement. The pace of drop was the steepest since March 2019.

Economists had forecast a 3% shrinkage.

Reporting by Chen Lin; Editing by Muralikumar Anantharaman