Singapore exports shrink for eighth month, miss estimates

Singapore (Reuters): Singapore’s exports in October shrank for the eighth straight month and were worse than analysts’ expectations as shipments of electronics continued to slide, official data showed on Monday. Non-oil domestic exports (NODX) last month fell 12.3% year-on-year, compared with a drop of 8.1% in September, data from the trade agency Enterprise Singapore showed. A Reuters poll had forecast shipments to fall 10.4%.

On a seasonally adjusted month-on-month basis, exports fell 2.9% in October after a drop of 3.3% in the previous month. The poll had predicted an increase of 1.4%.

Electronics shipments fell 16.4% year-on-year in October.