Singapore April NODX drops 10 percent in broad-based decline

Singapore’s port with the monorail to Sentosa island.Singapore’s port with the monorail to Sentosa island.

Singapore’s non-oil domestic exports (NODX) for April dropped 10.1 percent on-year on a high base a year earlier, with declines in both electronic and non-electronic exports, data from Enterprise Singapore showed Friday.

That followed an 11.8 percent decline in March, Enterprise Singapore said.

Electronics products NODX dropped 16.3 percent on-year in April, narrower than the 26.7 percent contraction in March, with ICs, disk media products and parts of ICs contributing most to the decline, the data showed.

Non-electronic NODX fell 7.9 percent on-year in April after declining 7.1 percent in March, with pharmaceuticals, specialized machinery and petrochemicals contributing the most to the fall, the data showed.

NODX to all of the top-10 markets declined in April, with the exception of Hong Kong and the U.S., with the EU 28, Japan and China leading the falls, the statement said.

For emerging markets, NODX declined by 13.3 percent on-year in April, following a 22 percent decrease in March, with Latin America, the Caribbean and South Asia driving the falls, Enterprise Singapore said.

Total trade for April increased 3.2 percent on-year, after declining 0.9 percent in March, with total imports rising 7.5 percent last month, following a 1.5 percent rise in March, the data showed. Total exports fell 0.5 percent on-year in April, after declining 3.0 percent in March, the statement said.

 

While you’re here, we’re hoping you can help us out.

Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.

Your monthly contribution will directly fund our journalism.

S$2     S$4       S$8

S$18       S$28       S$88

You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.