January 17, 2019 / 12:32 AM / 4 months ago

Singapore December exports unexpectedly fall 8.5 pct y/y

SINGAPORE, Jan 17 (Reuters) - Singapore’s non-oil domestic exports (NODX) in December unexpectedly fell from a year earlier as exports of electronics and pharmaceuticals plunged, official data showed on Thursday.

Exports in December fell 8.5 percent from a year earlier, data from the trade agency Enterprise Singapore showed, slowing further from a revised 2.8 percent decline the month before.

The outcome was well below a 1.5 percent increase predicted by economists in a Reuters poll.

On a seasonally adjusted month-on-month basis, exports contracted 5.7 percent in December after declining a revised 4.3 percent in November. The poll forecast a 2.1 percent expansion from the month before.

Electronic exports in December fell 11.2 percent from a year earlier, after a brief recovery in November when it rose 4.3 percent.

Pharmaceutical exports plunged 26.8 percent in December year-on-year after rising 7.3 percent the month before. (Reporting by Fathin Ungku; Editing by Jacqueline Wong)

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