News dalla rete ITA

19 Marzo 2019

Singapore

SURPRISE 4.9% RISE IN NON-OIL EXPORTS

Singapore's non-oil domestic exports (Nodx) sprang a surprise last month, rising 4.9 per cent after three straight months of decline, but economists cautioned that the rebound may not last. They said there tends to be distortions in data for the first two months of the year, with exports affected by the timing of Chinese New Year festivities.   A waning technology cycle, marked by less demand, as well as mixed signals from Chinese economic data and unresolved US-China trade negotiations, add to sentiment that Nodx could remain flat or slightly negative this year.   Last month's increase, which defied expectations of a 1.6 per cent dip in a Bloomberg poll of analysts, came on the back of growth in non-electronic shipments. It followed a weak start in January, when exports fell 10.1 per cent year on year.   While the latest figures are encouraging, it remains to be seen if the uptick can be sustained.   Shipments of disk media products, personal computers as well as diodes and transistors contributed the most to the fall.   Last month, growth came on the back of non-electronic Nodx instead, which rose 9.4 per cent after a 7.9 per cent decline in January. This was mainly due to non-monetary gold, pharmaceuticals and food preparations.   But electronics tend to be less volatile than clusters like pharmaceuticals, suggesting that the current growth may not be sustainable.   Last month, non-oil exports to most of Singapore's top markets rose as well, except to Japan, South Korea, Europe and Indonesia. The rise was mainly due to China, Hong Kong and the United States.     (ICE SINGAPORE)


Fonte notizia: The Straits Times, Tuesday, March 19 2019