Singapore's non-oil domestic exports, a key gauge of the export performance of the small and highly open economy, dropped 8.8 percent in November, trade promotion agency International Enterprise Singapore said on Tuesday.
The surprisingly sharp fall, following a growth of 2.8 percent in October, was attributed to a drop in shipments of both electronic and non-electronic products.
Economists had expected the non-oil domestic exports (NODX) in November to expand 4.2 percent year on year.
The NODX to markets such as the Chinese mainland, China's Taiwan as well as the United States saw gains, but falls were recorded for other top ten export markets.
Exports to the Chinese mainland, the biggest buyer of goods made in Singapore, grew 16.2 percent, and exports to the United States rose 10.3 percent. Shipments to the European Union fell 26.6 percent.
Electronic exports dropped 8.9 percent year on year in November, while non-electronic shipments fell 8.8 percent. In the non- electronics sector, pharmaceutical exports tumbled 46.9 percent.
On a month-on-month basis, exports fell 9.3 percent in November. /.