16.12.202205:33:00UTC+00Singapore Exports Fall More Than Forecast On Weaker Demand

Singapore's non-oil exports declined for the second straight month in November, and at a faster-than-expected pace, amid falls in both shipments of electronic and non-electronic goods, data from Enterprise Singapore showed on Friday.

Non-oil domestic exports decreased 14.6 percent year-on-year in November, which was worse than the 6.1 percent fall in October. Economists had expected a 7.4 percent drop.

Electronic exports plunged 20.2 percent, while non-electronic NODX dropped 12.8 percent.

On a monthly basis, the NODX declined 9.2 percent in November, after a 4.2 percent fall in the previous month. That was also above the 3.0 percent decrease expected by economists.

In November, non-oil domestic exports to the top 10 markets as a whole decreased, primarily as a result of China, Hong Kong, and Malaysia, while those to the EU 27, Japan, and the US increased.