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Financial News: Singapore NODX Declines More-Than-Forecast

Singapore NODX Declines More-Than-Forecast

05/16/2019 - 23:12:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports declined more-than-expected in April on weak electronic and non-electronic shipments, data from Enterprise Singapore showed Friday.

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. At the same time, non-electronic NODX decreased by 7.9 percent after the 7.1 percent decline.

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

NODX to the majority of the top markets dropped in April, except Hong Kong and the US. The largest contributors to the NODX decline were the EU 28, posting 25.4 percent fall.

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