Singapore's Dec Exports Fall 1.5% Y/Y, Worse Than Forecast

Reuters01-17

SINGAPORE, Jan 17 (Reuters) - Singapore's non-oil domestic exports in December fell 1.5% from a year earlier, data showed on Wednesday, as the trade-reliant economy grapples with declining demand from its top markets.

Last month's drop compared with a 3.3% rise in a Reuters poll, with electronic products exports falling and non-electronic products rising. Exports grew 1.0% in November.

The decline continued the bearish trend seen in October, when non-oil domestic exports fell for 13 consecutive months.

On a month-on-month seasonally adjusted basis, non-oil domestic exports declined 2.8% in December, after rising 0.3% in November.

The biggest decline was shipments to Taiwan, which contracted 33.2% from a year earlier with lower exports of specialised machinery, measuring instruments and petrochemicals.

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