Singapore’s non-oil exports grew faster than expected in December, mainly due to growing electronics shipments and strong demand from major trading partners such as China and the European Union.
Non-oil exports from the Southeast Asian trading hub rose 18.4% in December from a year earlier, Enterprise Singapore said.
The data were better than the average estimates for an increase of 11.8%, while in November the increase was 24.2%.
On a monthly basis, exports rose 3.7% in seasonally adjusted terms in December, up from 1% the previous month.
Average estimates spoke of an increase of 0.75% in December.
Exports of electronics increased by 13.6% in December from the previous year, compared to an increase of 29.2% from the previous month.
Excluding electronics, exports increased by 19.9%.
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Source From: Capital
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