Market updates on July 16
Welcome to Tuesday!
Singapore December exports ascend year-on-year
In December, Singapore's exports rallied, although at a slower tempo than in November, according to a Reuters survey of market experts.
December’s non-oil domestic exports were believed to have soared 8.7% from 2016, according to the median estimate in the poll of 10 experts, cooling moderately from the 9.1% soar in November.
The ongoing on-year jumps observed in exports last year have been powered by healthy global demand and would have been reinforced by December’s holiday season, as market experts told.
In spite of the fact external demand is still firm, headline numbers in the nearer months are believed to show a less dramatic soar due to the previous year's high base.
The exports boom has definitely benefited Singapore as well as other trade-dependent Asian economies. That’s especially true for manufacturers of electronics products, including semiconductors.
On a month-on-month as well as seasonally adjusted basis, in December exports were supposed to have dived 4.5%, as the survey discovered, versus an 8.7% leap in November.
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