SINGAPORE: Singapore's non-oil domestic exports fell unexpectedly by 0.1pc in February from the same month a year earlier, slowing during the Lunar New Year period, official data showed on Monday.
Last month's decline compared to a Reuters poll forecast of 4.7pc growth in February and 16.7pc growth seen for January. Singapore had previously estimated growth of 16.8pc in January.
On a seasonally adjusted monthly basis, non-oil domestic exports dropped 4.8pc versus analysts' estimate of a drop of 0.4pc.
Enterprise Singapore in a statement said exports declined "mainly due to non-electronics like food preparations, speciality chemicals and electrical circuit apparatus."
Meanwhile, electronics grew and the largest contributing markets to growth were Hong Kong, the United States and Indonesia, it said.
February's non-oil domestic exports were valued at S$14.2 billion (US$10.61 billion) on a seasonally adjusted basis. - Reuters