Singapore exports rebound in April after 2 months of decline

Singapore exports rebound in April after 2 months of decline

SINGAPORE: After two months of decline, Singapore’s exports rebounded in April although electronic shipments continued to fall, according to official figures released on Thursday (May 17).

Non-oil domestic exports (NODX) grew 11.8 per cent last month, after falling a revised 3.2 per cent in March and 6 per cent in February, trade agency Enterprise Singapore said.

Electronic shipments contracted 6.9 per cent in April, following the 7.5 per cent decline in the previous month. Parts of PCs, ICs, and diodes and transistors declined by 42.5 per cent, 5.5 per cent and 20 per cent respectively, and they contributed the most to the decrease in electronic exports.

Non-electronic shipments expanded by 19.6 per cent, after declining 1.7 per cent in the previous month. Non-monetary gold, pharmaceuticals and food preparations increased by 84.5 per cent, 43.7 per cent and 140.6 per cent respectively, contributing the most to the growth in non-electronic exports.

Overall, shipments to six of Singapore’s top 10 markets rose, with growth led by China, the European Union and the US. Shipments to Taiwan, South Korea, Malaysia and Hong Kong fell.

Source: CNA/cy