Export growth to slow down to 9.4% in November: Moody's

Electronics exports have been on a decline since May.

Singapore’s exports likely grew 9.4% YoY in November, after surging 20.9% in the prior month, according to a forecast by Moody’s Analytics.

October’s surge was driven by a 28.5% increase in non-electronic exports, whilst electronic exports grew just 4.5%.

Electronic exports have slowed noticeably since May, whilst non-electronic exports have picked up since the middle of this year.

However, even as overall electronic exports have softened, the demand for integrated circuits, disk media, and PCs has remained strong.

Moody's Analytics economist Katrina Ell said, "Although external demand is likely to remain firm, a high base from a year earlier is likely to inhibit export growth in coming months."