Singapore dollar edges lower as country's exports growth slows

Sigapore dollar
Singapore dollar notes Reuters

Non-oil exports from Singapore significantly slowed in November from October's double-digit growth, government data showed on Monday.

Non-oil domestic exports (NODX) rose 9.1 percent in November, data from the trade agency International Enterprise (IE) Singapore showed, slowing from a revised 20.5 percent surge the month before.

Singapore dollar eased to 1.3490/US dollar during early trades of Monday from intraday high at 1.3497. It closed at 1.3482 on Friday.

On a month-on-month seasonally adjusted basis, NODX rose by 8.7 per cent in November, cooling off slightly from the previous month's 12.3 per cent growth.

Both electronic and non-electronic exports increased year on year in November.

Electronic shipments went up 5.2 percent in November while non-electronic products grew for the sixth consecutive month, and was up 10.6 percent year on year.

Shipments to the majority of Singapore's top markets rose in November, led by China, South Korea and the U.S.