Singapore September exports report sudden dip as electronics stumble

Singapore September exports report sudden dip as electronics stumble

In September, Singapore's exports suddenly dived from 2016, as Tuesday’s data revealed. That’s their first on-year contraction in five months because electronics shipments reported their first sag in nearly a year.

Non-crude domestic exports went down 1.1% in September on-year, as data from the trade agency International Enterprise Singapore disclosed. It’s the first dive since April's 0.6% dip. The September contraction turned to be a stark contrast to experts’ forecasts for a 12.7% soar.

In August, this country’s exports ascended updated 16.7% from 2016.

Electronics exports, which are a key driver of the city-state's trade in recent months, went down for the first time since October last year, shrinking 7.9% in September from 2016.

Market experts told it was too early to ascertain whether the data hints at a light blip or a deeper correction in the broader ascend in demand for electronics goods or not.

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