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Financial News: Singapore Non-Oil Domestic Exports Fall 9.3%

Singapore Non-Oil Domestic Exports Fall 9.3%

05/17/2024 - 02:28:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports decreased for the third straight month in April, though at a slower pace than in March, data from Enterprise Singapore showed on Friday.

Non-oil domestic exports fell 9.3 percent year-over-year in April, much slower than the 20.8 percent plunge in the previous month.

The decline was driven largely by non-electronics, including pharmaceuticals, while electronics advanced.

Non-electronic exports dropped 12.3 percent in April from last year, while electronic shipments rebounded by 3.3 percent. Pharmaceuticals, non-electric engines and motors, and food preparations contracted by 73.3 percent, 64.0 percent, and 12.9 percent, respectively.

On a monthly basis, NODX rose 7.6 percent in April, reversing an 8.5 percent decline in the preceding month. Both electronic and non-electronic domestic exports increased.

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