Singapore exports decline 4.5% in Sep.

Singapore''s exports unexpectedly fell in September, weighed down by a deepening slump in the electronics sector. Non-oil domestic exports (NODX) dropped 4.5% from a year earlier, in contrast to the 3.9% increase in August, said International Enterprise Singapore (IE Singapore). Analysts had forecast a rise in NODX of around 3.5%. Exports of electronics dropped 13.6% in September from a year ago, following a 19.4% fall in August. IE Singapore said the decline in electronics last month was driven by a 54% slide in disk drive shipments and a 9% drop in integrated circuits. The figures follow Friday''s revised forecast by the government for the economy to grow 5% in 2011. That''s the low end of its previous 5% to 6% estimate, according to (Channel NewsAsia). The Ministry of Trade and Industry had warned the softening global economy could harm growth. The Monetary Authority of Singapore also issued a caution Friday about the worldwide slowdown, saying the Singapore economy in 2012 may not reach its potential growth rate of 3% to 5%. On a year-on-year basis, Singapore''s non-oil exports to the US and Taiwan in September dropped 35% and 19% respectively. The 4.5% fall in NODX last month was the biggest year-on-year fall since October 2009.