SINGAPORE (Dow Jones) -- Singapore's key non-oil domestic exports fell as expected in May, due to a high base of comparison with the previous year.
Exports of goods made in Singapore fell 15.9% in May compared with a year earlier, after falling 10% in April, trade promotion agency Enterprise Singapore said Monday.
Compared with the previous month, exports rose 6.2% in seasonally adjusted terms, after contracting 0.7% in April. Economists in the poll had projected a median 5.5% on month expansion in May.
Electronics exports fell 31.4% on year in May, while non-electronics shipments were down 10.8%. Exports of the highly volatile pharmaceuticals, however, surged 28.5% on year, reversing a 46.6% fall in April.
Exports to China, the biggest market for goods made in Singapore, fell 23% on year in May after a 7.0% fall in April, the data showed. Exports to the European Union fell 9.5% while shipments to the U.S. were 0.8% lower.