Singapore’s September exports rise 2.7% y/y, less than forecast

Singapore's non-oil domestic exports rose 2.7% in September from the same month a year earlier, data on Thursday showed, supported by growth in electronic and non-electronic products.

The rise compared with a Reuters poll forecast of a 9.3% increase, and the 10.7% growth seen in August.

On a month-on-month seasonally adjusted basis, non-oil domestic exports rose 1.1% in September, following a 4.7% contraction in August. Analysts had expected a 4.9% rise.

Enterprise Singapore said shipments of electronic products rose 4% in September from a year earlier, while non-electronic products were up 2.3%.

Among major export markets, shipments to the European Union, Indonesia and South Korea rose strongly, while there were declines in sales to the United States, Japan and Hong Kong.