Singapore's Non-Oil Domestic Exports Rose Unexpectedly in December

By Ronnie Harui

SINGAPORE--Singapore's non-oil domestic exports rose 6.8% in December from a year earlier, mainly due to shipments of non-electronics such as specialized machinery.

The result beat the median estimate of nine economists surveyed by The Wall Street Journal who projected a 1.1% decline, and compared with November's 5.0% decrease.

Exports of electronics grew 13.7% in December after falling 4.0% in November, while non-electronics shipments rose 5.0% following a 5.3% decline, Enterprise Singapore said Monday.

Amid non-electronic products, specialized machinery surged 30.9%, non-monetary gold climbed 14.5% and measuring instruments jumped 21.4%. Pharmaceuticals slumped 47.5%.

Shipments to the U.S. climbed 52.5% in December following a 9.5% increase in November, while exports to South Korea jumped 46.2% after a 9.7% decline.

Exports to China slid 24.6% in December after dropping 18.5% in November, while shipments to the European Union slipped 27.5% after a decrease of 24.6%.

Measured on month, exports rose 6.6% in seasonally adjusted terms in December, after growing 3.7% in November. Seven economists surveyed by The Wall Street Journal had a median projection for a 3.3% expansion.

Write to Ronnie Harui at [e-mail]

(END) Dow Jones Newswires

01-17-21 1947ET