Non-oil domestic exports in Singapore advanced 2.2 percent on year in April, International Enterprise Singapore said on Monday.
That follows the 18.5 percent surge in March as an expansion in non-electronic NODX outweighed the decline in electronic NODX.
On a seasonally adjusted monthly basis, NODX tumbled 8.7 percent in April following the upwardly revised 23.1 percent spike in March (originally 23.0 percent).
NODX came in at a seasonally adjusted S$14.5 billion in April, down from S$15.8 billion in the previous month.
On a yearly basis, NODX to eight of the top 10 NODX markets, including Taiwan, the US, China, Malaysia, Indonesia, Hong Kong, Thailand and Japan, declined in April. The top contributors to the NODX growth in April were South Korea and the European Union.
NODX to South Korea expanded 30.6 percent in April, following the previous month’s growth of 20.5 percent, while NODX to the EU rose 11.4 percent in April, following the 56.2 percent spike in the preceding month.
NODX to emerging markets advanced 22.9 percent in April, following the 69.0 percent spike in the previous month. The growth in NODX to the emerging markets was due mainly to the Caribbean (+194.6 percent), the Middle East (+50.2 percent) and CLMV (+16.6 percent).
On a yearly three-month moving average, NODX expanded 4.1 percent in April following the 4.8 percent rise in the previous month.
On a yearly basis, total trade contracted 11.6 percent in April, following the 6.9 percent decline in the previous month. Total exports fell 9.3 percent in April, compared to the 0.7 percent expansion in the previous month. Total imports shed 14.2 percent in April, following the 14.8 percent fall in the preceding month.
On a seasonally adjusted monthly basis, total trade dipped 4.1 percent in April, in contrast to the 11.4 percent spike in the previous month. The level of total trade was S$76.0 billion in April, lower than the previous month’s S$79.2 billion.
Total exports contracted 7.4 percent in April, compared to the 14.4 percent growth in the previous month. Total imports increased 0.1 percent in April, following the 7.9 percent expansion in the previous month.
On a yearly basis, electronic NODX eased 3.8 percent in April, in contrast to the 10.4 percent jump in the previous month. Non-electronic NODX expanded 4.7 percent in April following the 21.6 percent spike in the previous month.
On a yearly basis, oil domestic exports tumbled 34.9 percent in April, following the preceding month’s 22.4 percent contraction. The decline of oil domestic exports was mainly due to lower sales to Malaysia (-59.4 percent), Australia (-51.3 percent) and Indonesia (-22.0 percent).
In volume terms, oil domestic exports added 1.7 percent in April, following the 22.5 percent increase in the previous month. On a seasonally adjusted monthly basis, oil domestic exports contracted 5.6 percent in April, in contrast to an expansion of 13.9 percent in the previous month.
The material has been provided by InstaForex Company – www.instaforex.com