Singapore’s Non-Oil Domestic Exports Rise in September

SINGAPORE (Reuters) – Singapore's non-oil domestic exports rose 2.7% in September from the same month a year earlier, according to data released on Thursday. This growth was supported by increases in both electronic and non-electronic products.

The rise was below a Reuters poll forecast of 9.3% and significantly less than the 10.7% growth seen in August.

On a month-on-month seasonally adjusted basis, non-oil domestic exports increased by 1.1% in September, recovering from a 4.7% contraction in August, although analysts had anticipated a 4.9% rise.

Enterprise Singapore reported that shipments of electronic products increased by 4% in September compared to the previous year, while non-electronic products saw a 2.3% rise.

Among major export markets, shipments to the European Union, Indonesia, and South Korea saw significant increases, while sales to the United States, Japan, and Hong Kong experienced declines.