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Singapore January exports fall 10.1 percent year-on-year, biggest in over two years

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02/17/2019 | 07:45pm EST
FILE PHOTO: An aerial view of shipping containers stacked at the port of Singapore

SINGAPORE (Reuters) - Singapore's non-oil domestic exports (NODX) in January fell more than expected from a year earlier, official data showed on Monday.

Exports fell 10.1 percent in January year-on-year, data from the trade agency Enterprise Singapore showed, slowing further from the 8.5 percent decline the month before.

That missed the 1.6 percent decline predicted by 10 economists in a Reuters poll. This is the biggest drop since October 2016 when exports fell 14 percent from a year earlier.

Enterprise Singapore attributed the decline to the "high base a year ago".

On a seasonally adjusted month-on-month basis, exports contracted 5.7 percent in January after declining a revised 4.0 percent in December. The poll called for a 2.6 percent expansion from the month before.

(Reporting by Fathin Ungku; Editing by Subhranshu Sahu)

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