Singapore's Sept non-oil domestic exports up 2.2 pct yr-on-yr - UPDATE |
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Wed, 17 Oct 2007 06:32
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SINGAPORE (Thomson Financial) - Singapore's non-oil domestic exports in September inched up 2.2 percent from a year earlier to 14.7 billion Singapore dollars as weak electronics shipments continued to weigh on growth, International Enterprise Singapore said Wednesday.The figure was well below estimates of economists polled by Thomson Financial who expected a rise of between 6-11 percent after an 11 percent increase in August. Most economists had expected electronics shipments to grow after months of declines.But electronics exports fell 10.6 percent in September, the eighth consecutive month of contraction.'The decline of electronic domestic exports was due to the lower domestic exports of parts of PCs, integrated circuits, telecommunications equipment and disk drives,' IE Singapore said in a statement.PC exports fell 27.4 percent from a year earlier and semiconductor shipments dropped 15.9 percent. Telecommunications shipments slipped 34.1 percent and disk drive exports were down 14.8 percent.Non-electronic exports continued to post growth, up 14 percent in September, although slower than the 22 percent increase in August.Exports of pharmaceuticals were up 22.1 percent while shipments of bookbinding machinery and specialised machinery also rose, IE Singapore said.Seasonally adjusted, non-oil domestic exports fell 1.5 percent In September from the previousmonth after expanding 1.9 percent in August.Shipments to EU countries, Hong Kong and South Korea saw the most growth in September.Exports to EU rose 13 percent, those bound for Hong Kong climbed 9.1 percent, and those to South Korea increased 20 percent. Shipments to the US, Taiwan, China, Indonesia and Malaysia dropped.Exports to the US declined by 8.3 percent and those bound for China fell 4.9 percent. Exports to Indonesia dropped for the fifth straight month, by another 5.7 percent.(1 US dollar = 1.46 Singapore dollars)yuinmunn.szetoh@thomson.comys/msCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Singapore's September non-oil domestic exports up 2.2 percent, below forecast 