Singapore's Exports Fell Less-Than-Expected in January

SINGAPORE--Singapore's non-oil exports fell in January, mainly due to declines in electronic and non-electronics exports.

Exports of goods made in Singapore dropped 3.3% in January compared with a year earlier, after growing 2.4% in the preceding month, Enterprise Singapore said Monday.

The median estimate of eight economists in a Wall Street Journal poll was for a 3.5% contraction in exports in January from a year earlier.

Measured on month, exports rose 4.6% in seasonally adjusted terms in January, after expanding 1.0% in December. Economists in the poll had projected a median 4.15% contraction in January.

Shipments to the European Union fell 10.5% in January from a year earlier, compared with a 9.9% on-year expansion in the previous month, IE Singapore said.

Exports to the U.S. climbed 23.6% on year in January after rising 8.5% in December. Exports to China grew 14.7% after the previous month's 9.8% increase.

Electronics exports declined 13.0% on year in January, after falling 21.3% in December, while non-electronics shipments fell 0.1% in January, compared with a 11.5% expansion in December.

In the non-electronics sector, pharmaceutical exports fell 5.5%.

Write to Ronnie Harui at ronnie.harui@wsj.com


  (END) Dow Jones Newswires
  02-16-20 1954ET
  Copyright (c) 2020 Dow Jones & Company, Inc.

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