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Financial News: Singapore Export Growth Slows In March

Singapore Export Growth Slows In March

04/18/2022 - 04:24:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports growth eased in March amid a slowdown in shipments of non-electronic goods, data from Enterprise Singapore showed on Monday.

Non-oil domestic exports increased 7.7 percent year-on-year in March, after a 9.4 percent rise in February. Economists had expected a 2.9 percent growth.

Electronic exports grew 11.5 percent and non-electronic NODX rose 6.8 percent.

On a monthly basis, NODX fell 2.3 percent in March, following a 2.9 percent decline in the previous month.

Exports to the top markets grew in March, though exports to Hong Kong, South Korea and Thailand declined. The largest contributors to the export growth were the US, Malaysia and EU27.

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