SINGAPORE - In the past month, a key non-oil exports rose unexpectedly in Singapore due to the sharp growth in shipments of electronics.
According to the Ministry of Commerce of Singapore, exports of goods produced in the country grew by 0.3 percent in September, compared to the same period a year earlier, after falling 8.4 percent in August. Economists in the survey Wall Street Journal forecast a decline by 3.9 percent compared with the same period a year ago.
Compared with the previous month, exports to a seasonally adjusted increased by 2.8 percent after falling 4.6 percent in August. Economists had forecast an increase of 0.6 percent.
Exports to China, the largest area of export sales in Singapore, fell to 12.9 percent in September compared to the same period in 2014. In the previous month, this indicator fell by 8.2 percent. The volume of exports to the European Union fell 2.1 percent after falling 9.0 percent in August. Exports to the US decreased by 9.3 percent, showing a drop of 8.8 percent in August.
Exports of electronics rose 5.7 percent after falling 2.7 percent in August. The volume of exports of pharmaceuticals rose 6.6 percent after falling 9.3 percent the previous month.
According to the materials WELTRADE