Thursday, May 17, 2012

Singapore NODX up 8.3% on-year in April

SINGAPORE: Singapore's non-oil domestic exports (NODX) rose 8.3 per cent year-on-year in April, compared to a 4.3 per cent decline in March.

On a month-on-month seasonally adjusted basis, NODX grew 13 per cent last month, compared to March's contraction of 17 per cent.

Trade promotion agency IE Singapore attributed the better-than-expected performance to an expansion in both electronics and non-electronics exports.

Growth in electronics exports slowed down to 1.0 per cent, after last month's 2.8 per cent expansion. This was due largely to higher exports of integrated circuits, telecommunications equipment and disk drives.

Non-electronics exports jumped 12 per cent in April, after falling 7.8 per cent in the previous month.

Exports of pharmaceuticals had surged 38 per cent, while those of specialised machinery climbed 37 per cent. Petrochemicals exports also saw a 15 per cent growth in April on-year.

IE Singapore said NODX to all the top 10 NODX markets, except the United States and the European Union, increased in April.

The top three contributors to the expansion being Japan, Hong Kong and South Korea.

Total trade increased by 2.8 per cent on year in April, compared to a 0.9 per cent marginal decline last month.

Total exports rose 3.8 per cent, after falling 2.3 per cent in March, while total imports increased 1.7 per cent, compared to 0.6 per cent growth last month.

View the original article here

Source From Channel Mews Asia

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