Singapore’s key exports grow faster in April
Singapore's non-oil domestic exports (Nodx) in April surged 12.4% year on year, compared to a 5.4% rise in the previous month.
Singapore’s key exports grew at a faster-than-expected pace in April, boosted by stronger shipments of both electronics and non-electronics, reported The Straits Times.
In April, non-oil domestic exports (Nodx) surged 12.4% year on year, compared to a 5.4% rise in the previous month, according to figures released by trade agency Enterprise Singapore (EnterpriseSG) on May 16.
April’s increase far outstripped the 4.3% growth forecast by analysts in a recent poll.
Electronics exports expanded 23.5% year on year, almost double the 12.2% growth in March. Growth was underpinned by personal computers, disk media products, and integrated circuits.
Non-electronics exports grew 9.3% in April, higher than the revised 3.7% increase in March.
The country’s Nodx to Indonesia, Taiwan (China) and the Republic of Korea grew though shipments to Malaysia and China, Singapore’s single largest export market, declined./.
