S'pore's NODX falls sharply in March

SINGAPORE: Singapore's non-oil domestic exports (NODX) for March fell sharply from February figures, according to a statement from International Enterprise (IE) Singapore.

NODX fell 4.3 per cent on-year in March compared to a 30 per cent rise in February, largely due to a contraction in non-electronic NODX which
outweighed the expansion in electronic NODX.

Electronic exports rose 2.8 per cent but could not make up for non-electronic exports falling 7.8 per cent due to lower exports of structures of ships & boats(-99 per cent), petrochemicals (-13 per cent) and primary chemicals (-15 per cent).

The figures are a contrast to February, when electronic exports rose 23 per cent on-year while non-electronic exports expanded 34 per cent.

On a month-on-month seasonally adjusted basis, NODX decreased by 17 per cent compared to an expansion of 7.2 per cent in the previous month.

On a seasonally adjusted basis the level of NODX reached S$14 billion, lower than the S$17 billion registered in February.

As for total trade, it dropped by 0.9 per cent on-year compared to a 26 per cent rise in February.

Total exports declined by 2.2 per cent in March compared to a 25 per cent expansion in February.

Total imports increased marginally by 0.6 per cent in March, following a 27 per cent rise in February.