Singapore Oct exports fall 0.2 pct s/adj 16 Nov 2007 13:00
Singapore Oct exports fall 0.2 pct s/adj 16 Nov 2007 13:00
SINGAPORE, Nov 16 (Reuters) - Singapore's non-oil exports unexpectedly fell in October, dropping by 0.2 percent after seasonal adjustments from September, data showed on Friday.
October's fall compared with market expectations for a 2.0 percent rise, and followed a 1.5 percent decline in September.
Non-oil exports in October rose 6.8 percent from a year earlier to S$15.8 billion ($10.9 billion), trade agency International Enterprise Singapore said in a statement. That compared with a 2.2 percent rise in September, and with a median forecast in a Reuters poll for an annual increase of 6.0 percent.
Economists had expected a marginal rise in October exports as faster drugs shipments offset persistent weakness in electronics exports.
Electronics account for about 40 percent of the city-state's non-oil exports, while pharmaceuticals make up about 10 percent of overseas sales.
October electronics shipments fell by 7.2 percent from a year ago while drugs exports rose 15.1 percent in the same period. Petrochemicals climbed 18.6 percent.
Singapore's non-oil domestic exports, which comprise of goods that have been manufactured in Singapore or undergone further processing, include mobile phones, medical instruments, and active ingredients for some blockbuster drugs. (Reporting by Jan Dahinten) (([email protected]; +65 6403 5659; Reuters Messaging: [email protected])) ($1=1.451 Singapore Dollar) Keywords: SINGAPORE ECONOMY/EXPORTS