SINGAPORE: Singapore's exports made a surprise rebound in December after nine months of contraction, partly due to a sharp rise in pharmaceutical shipments, official data showed on Friday (Jan 17).
Non-oil domestic exports expanded 2.4 per cent year-on-year in December, data from trade agency Enterprise Singapore showed, following a 5.9 per cent decline in November.
AdvertisementAdvertisementThis was significantly better than the 1.8 per cent decline predicted by economists in a Reuters poll.
[h=3]READ: Singapore’s factory activity snaps 7 months of contraction in December[/h][h=3]Commentary: The Singapore economy in 2020 - stabilisation or more uncertainties on the horizon?[/h]On a seasonally adjusted month-on-month basis, exports expanded 1.1 per cent in December after growing 5.8 per cent in November. The poll had called for a 1.3 per cent contraction from the month before.
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