Singapore exports set for sharp rise

SINGAPORE: Singapore´s exports in October are expected to more than recoup a surprise decline in the month before thanks to strong demand for the affluent city-state´s tech products, a Reuters poll found on Wednesday.

The median forecast of a survey of 11 economists was for non-oil domestic exports to have risen 10.0 percent year-on-year last month.  Such a result would more than offset September´s unexpected 1.1 percent contraction after 5 straight months of gains as electronics shipments fell for first time in almost a year.

"The September figures looked a bit out of whack. It´s a bit strange compared to industrial production which was doing relatively well," said Nomura economist, Brian Tan. Singapore´s industrial production in September beat expectations and grew for the fourteenth consecutive month thanks to continued growth in electronics, prompting analysts to view the September downturn as a "one-off".

On a month-on-month and seasonally adjusted basis, non-oil domestic exports were seen up 5.1 percent, the poll found. Singapore and other trade-dependent Asian economies enjoyed a strong tailwind from improved global demand, particularly for electronics products and components such as semiconductors.