empty
 
 

2019.05.1707:35:00UTC+00Singapore Exports Slump Further In April

Singapore's non-oil domestic exports declined sharply in April, albeit at a slower pace compared to March, driven by a fall in electronic and pharmaceutical shipments, data from Enterprise Singapore showed Friday.

Non-oil domestic exports, or NODX, slid 10 percent annually in April from the high base a year ago, after decreasing 11.8 percent in March. Shipments were forecast to fall moderately by 4.6 percent.

Exports of electronic goods declined 16.3 percent in April, following the 26.7 percent contraction in the previous month. There were double-digit declines in the shipment of integrated circuits, disk media products and parts of ICs.

At the same time, non-electronic NODX decreased by 7.9 percent after the 7.1 percent decline. The fall was led by massive declines in pharmaceuticals, specialized machinery and petrochemicals.

Month-on-month, NODX declined 0.6 percent in April, following the previous month's 14.3 percent contraction, data revealed.

The agency attributed the latest fall in NODX mainly to the lower demand from the EU 28, Japan and China, with decreases of 25.4 percent, 31.1 percent and 5.8 percent, respectively.

Exports to the majority of the top markets dropped in April, except Hong Kong and the US, to which shipments rose by +15.2 percent and +2.2 percent, respectively.

Exports to emerging markets decreased by 13.3 percent in April, following the 22.0 percent fall in the prior month. The decline was mainly due to weaker demand from Latin America, the Caribbean and South Asia.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback