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SINGAPORE: Non-Oil Exports Unexpectedly Contracts in October. 

SINGAPORE
SingaporeGlobalEM BulletBulletAPACEmerging Market NewsRegion
  • Singapore’s non-oil exports YoY contracted -4.6% in October and September’s numbers were revised down from +2.7% to 0.9%.
  • The month-on-month figure saw a larger decline to -7.4% for October and the September release revised down from +1.1% to -0.6%.
  • Electronic exports YoY maintained their positive momentum for October at +2.6%, whilst there was a material revision down to the prior month from +4.0% to -0.7%.
  • Singapore’s non-oil exports to China declined -22.3% (from -0.1%), exports to the EU declined -21.4% (from +37.4%) and to Emerging Markets nations down -11.1% (from +0.8%).
  • The only bright spot from a country perspective was exports to the US climbed +7.6%, from (-20.8% the month prior).
  • As one of the most open economies in the region, Singapore’s trade data is watched carefully as a reflection of sentiment for Asia. 
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  • Singapore’s non-oil exports YoY contracted -4.6% in October and September’s numbers were revised down from +2.7% to 0.9%.
  • The month-on-month figure saw a larger decline to -7.4% for October and the September release revised down from +1.1% to -0.6%.
  • Electronic exports YoY maintained their positive momentum for October at +2.6%, whilst there was a material revision down to the prior month from +4.0% to -0.7%.
  • Singapore’s non-oil exports to China declined -22.3% (from -0.1%), exports to the EU declined -21.4% (from +37.4%) and to Emerging Markets nations down -11.1% (from +0.8%).
  • The only bright spot from a country perspective was exports to the US climbed +7.6%, from (-20.8% the month prior).
  • As one of the most open economies in the region, Singapore’s trade data is watched carefully as a reflection of sentiment for Asia.