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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SINGAPORE
Singapore exports for September have continued the trend of better than expected outcomes for export orientated economies in Asia (see the chart below, Singapore's line is in grey). In m/m terms exports were +1.1%, versus +3.3% forecast, although the August fall was revised down to -6.6% (originally reported as -3.8%). For Y/Y we saw -13.2%, against -15.0% forecast and -22.5% prior. Electronic exports were -11.6% y/y in September versus -21.1% prior.
- The detail showed a modest rise in electronic exports in m/m terms, while y/y momentum looks to on the improve.
- The improvement in non-electronic exports looks to be fairly broad based, with the volatile pharmaceuticals and petrochemicals sub-categories not accounting for the rise in September.
- By country exports to China rebounded strongly in September, up 26.2% from -19.3% in August. Exports to the US were also higher +9.7% y/y from -32.4%. Other countries still saw negative export momentum in y/y terms.
Fig 1: Key Asia Economy Exports Y/Y - Better Trends In September
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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