Singapore Jan non-oil domestic exports edge up from year ago

SINGAPORE, Feb 18 (Reuters) - International Enterprise

Singapore (IE Singapore), the country's trade agency, released

January trade data on Monday.

Following are the changes in Singapore's non-oil domestic

export (NODX):

month mth/mth change year/year

(seasonally change %

adjusted) %

Jan -1.8 +0.5

Dec* -4.2 -16.3

Nov* +1.5 -2.6

* month on month changes were revised

For detailed exports data, see IE Singapore's website at http://www.iesingapore.com

CONTEXT:

- The rise in January non-oil domestic exports was led by

printed matter (up 499.5 pct), petrochemicals (up 28.2 pct) and

non-monetary gold (up +53.1 pct), IE Singapore said.

- January exports were aided by the Lunar New Year holiday

beginning on Feb 10 this year unlike in 2012 when it began on

Jan 23.

- Economists polled by Reuters had expected non-oil domestic

exports to rise 3.3 percent year-on-year and 9.6 percent

month-on-month after seasonal adjustments.

- Electronics exports fell 5.6 percent year-on-year in

January, while pharmaceutical shipments contracted by 22.9

percent, IE Singapore said.

- Non-oil domestic exports to the EU fell 18.4 percent

year-on-year and 29.3 percent month-on-month after seasonal

adjustments.

- Non-oil domestic exports totalled S$14.15 billion ($11.43

billion)in January, up from S$13.19 billion in December.

- Singapore's monthly exports tend to be unpredictable

because a significant portion involves inputs for

pharmaceuticals and oil rigs, which can vary sharply from month

to month.

- Manufacturing activity in Singapore rose in January after

contracting for six consecutive months, the city-state's

Purchasing Managers' index (PMI) showed earlier in the month,

helped by an expansion in new orders.

- The electronics industry, which has been in the doldrums,

also saw a pickup in orders, although the overall PMI for the

sector remained below the 50-point level that separates

expansion from contraction.

($1 = 1.2376 Singapore dollars)

(Reporting by Kevin Lim; Editing by Shri Navaratnam)

Source: http://news.yahoo.com/singapore-jan-non-oil-domestic-exports-edge-ago-003032110--business.html

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