Singapore’s non-oil exports grow slower than expected in September hinh anh 1A view of Tanjong Pagar Terminal of Singapore (Photo: AFP/VNA)

Hanoi (VNA)Singapore's non-oil domestic exports (NODX) in September rose 5.9 percent from a year earlier, driven mainly by electronics shipments, data from Enterprise Singapore showed.

The NODX growth was lower than the 7.7-percent increase in August and the 10.8-percent rise forecast by economists in a Reuters poll.

Exports of electronics jumped 21.4 percent from a low base a year ago.

On a seasonally adjusted month-on-month basis, the country’s exports contracted 11.3 percent in September after a 10.5-percent increase in the previous month. The pace of drop was the steepest since March 2019, Enterprise Singapore said in a statement.

The Singaporean Ministry of Trade and Industry said on October 14 that the economy shrank at a slower pace of 7 percent in the third quarter from the same period last year, following the phased reopening of the economy after the COVID-19 "circuit breaker" period. 

This is also an improvement from the 13.3-percent contraction in Q2 and close to a 7.6-percent contraction estimated by private-sector economists surveyed by the Monetary Authority of Singapore last month.

The ministry predicted the economy may shrink by between 7 percent and 5 percent this year./.
VNA