Financial News: Singapore Non-Oil Domestic Exports Plunge 20.7%

Singapore Non-Oil Domestic Exports Plunge 20.7%

04/17/2024 - 02:25:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports decreased for the second straight month in March, data from Enterprise Singapore showed on Wednesday.

Non-oil domestic exports slumped 20.7 percent year-over-year in March, much faster than the 0.2 percent slight fall in the previous month.

The decline was driven largely by non-electronics, including pharmaceuticals, and electronics also declined.

Electronics exports dropped 9.4 percent in March from last year, and non-electronics shipments contracted 23.6 percent.

On a monthly basis, NODX declined 8.4 percent in March, following a 4.9 percent decline in the preceding month. Both electronic and non-electronic domestic exports decreased.

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