Singapore January non-oil domestic exports fall more than expected

Storage tanks stand on Jurong Island, viewed from Keppel Corp.'s FELS shipyard, in Singapore.
Munshi Ahmed | Bloomberg | Getty Images

Singapore's non-oil domestic exports fell 3.3 percent in January from a year ago, more than expected, after solid growth in December as Lunar New Year holidays bit into trade, official data showed on Monday.

International Enterprise Singapore (IE Singapore), the country's trade agency, released the December trade data.

A Reuters poll of economists had estimated that non-oil exports in January would ease a median 1.2 percent from a year earlier and be down 1.0 percent month-on-month.

Singapore's non-oil exports tend to be volatile because a significant portion comprises pharmaceuticals and oil rigs that can vary sharply from month to month.