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CORRECTED-Singapore May exports shrink again y/y, electronics shipments still solid
June 16, 2017 / 12:31 AM / 5 months ago

CORRECTED-Singapore May exports shrink again y/y, electronics shipments still solid

(Corrects electronics exports figures in fourth paragraph)

By Fathin Ungku

SINGAPORE, June 16 (Reuters) - Singapore’s non-oil domestic exports (NODX) slumped for a second straight month in May, likely reflecting a high base effect from the year before.

Exports dropped 1.2 percent from a year earlier, data from trade agency International Enterprise Singapore (IE Singapore) showed on Friday, but were better than a 3.7 percent decline forecast in a Reuters poll.

On a seasonally adjusted month-on-month basis, however, exports increased 8.1 percent in May after contracting 9.0 percent in April. Expectations centered on growth of 3.6 percent for last month.

Export growth in the electronics sector was solid in May - a major driver of shipments in recent months - jumping 23.3 percent from the year before.

For detailed exports data, see IE Singapore's website at www.iesingapore.gov.sg. (Reporting by Fathin Ungku; Editing by Shri Navaratnam)

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