Asia Economy

Singapore's October exports unexpectedly fall 3.1% from last year

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Shipping containers stand on the quayside near empty docking terminals at Singapore port in Singapore, on March 27, 2020.
Lauryn Ishak | Bloomberg | Getty Images

Singapore's October non-oil domestic exports (NODX) unexpectedly fell 3.1% from a year earlier, coming in well below forecasts, as both electronics and non-electronics shipments dropped, official data showed on Tuesday.

The figure missed a 5.7% rise forecast by economists in a Reuters poll, and compared with a slightly revised 5.8% increase in September.

On a seasonally adjusted month-on-month basis, exports decreased 5.3% in October after an 11.4% contraction the previous month, Enterprise Singapore said in a statement.

Economists had forecast a 4.6% rise.