Singapore September exports fall 4.8 percent, better than forecasts

Source : REUTERS
Last Updated: Mon, Oct 17, 2016 11:18 hrs
An aerial view of shipping containers stacked at the port of Singapore

Singapore's exports in September fell less than expected as a decline in shipments to China moderated and sales to Europe rebounded, but the outlook for the trade-dependent economy remained grim on sluggish global demand.

Non-oil domestic exports last month slid 4.8 percent from a year earlier, the trade agency International Enterprise Singapore (IE Singapore) said in a statement on Monday.

The median forecast in a Reuters poll was for a 6.0 percent contraction.

In August, overseas sales stalled with shipments to the United States picking up and exports to China falling less than the previous month.

On a month-on-month, seasonally adjusted basis, non-oil domestic exports increased 2.4 percent in September, IE Singapore said, beating a forecast 1.5 percent expansion in the survey.



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