SINGAPORE: Singapore’s non-oil domestic exports (NODX) in January fell more than expected from a year earlier, official data showed on Monday.
Exports fell 10.1% in January year-on-year, data from the trade agency Enterprise Singapore showed, slowing further from the 8.5% decline the month before.
That missed the 1.6% decline predicted by 10 economists in a Reuters poll. This is the biggest drop since Oct 2016 when exports fell 14% from a year earlier.
Enterprise Singapore attributed the decline to the “high base a year ago”.
On a seasonally adjusted month-on-month basis, exports contracted 5.7% in January after declining a revised 4% in December. The poll called for a 2.6% expansion from the month before.