Singapore’s February exports increase 7.6% on year, below forecast

SINGAPORE – Singapore’s non-oil domestic exports rose 7.6% in February from the same month last year, government data showed on Monday, boosted by growth in sales of both electronics and non-electronics.

The increase was against a Reuters poll forecast of an 8.7% rise and followed a 2.1% decline in January.
The statement from Enterprise Singapore did not include details of the month-on-month seasonally adjusted change in exports.

Shipments to the United States, Taiwan, South Korea, Malaysia and the European Union rose on a yearly basis in February, while exports to China, Hong Kong and Indonesia declined.