Singapore non-oil April exports fall 3.6pc as electronics dip

SINGAPORE has announced that in April its non-oil domestic exports (NODX) decreased by 3.6 per cent on a month on month seasonally adjusted basis, following the previous month's three per cent decline.


Such exports contracted by 1.8 per cent in April year on year, compared to the 9.9 per cent increase seen the previous month, due to a decline in electronic domestic exports.


Month to month, non-oil re-exports fell 0.7 per cent in April, after falling 2.2 per cent the previous month. Year on year, they shrank two per cent in April against a 2.5 per cent increase the previous month, again due to the electronics short fall.


On a seasonally adjusted basis, non-oil retained imports of intermediate goods (NORI) increased by S$152 million (US$122 million) from S$5,935 million the previous month to reach S$6,087 million in April.


Total trade contracted 4.2 per cent in April, compared to a 9.1 per cent increase the previous month. Total exports declined 2.2 per cent in April, in contrast to 2.2 per cent growth the previous month. Total imports contracted 6.4 per cent in April, compared to an 18 per cent expansion the previous month, a government statement said.


Year on year, total trade rose 4.8 per cent in April, following a 15 per cent increase the previous month. Total exports grew five per cent in April, following the 13 per cent expansion the previous month. Total imports increased 4.5 per cent in April, following a 17 per cent rise the preceding month.


Oil domestic exports declined 3.2 per cent in April from the previous month. Year on year, oil domestic exports expanded 24 per cent mainly due to sales to India (+251 per cent), China (+86 per cent) and Panama (+51 per cent). In volume terms, oil domestic exports decreased 3.8 per cent in April.
(Source:http://www.schednet.com)