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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.
Inflation data is the most important indicator that affects the central bank’s monetary policy.
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