Non-oil domestic exports in Singapore climbed 18.5 percent on year in March, International Enterprise Singapore said on Friday.
That follows the 9.7 percent contraction in February thanks to an expansion in both electronic and non-electronic NODX, the stats bureau said.
On a seasonally adjusted monthly basis, NODX surged 23.0 percent in March following the 9.4 percent decline in February.
NODX came in at a seasonally adjusted S$15.8 billion in March, up from S$12.9 billion in the previous month.
On a yearly basis, NODX to all of the top 10 NODX markets, except Indonesia and Japan, increased in March. The top three contributors to the NODX growth in March were the EU 28, the U.S. and Malaysia.
NORX grew 1.7 percent in March, following the 0.9 percent increase in the previous month, due to an expansion in non-electronic NORX which outweighed the decrease in electronic NORX.
On a yearly three-month moving average basis, NODX expanded 4.8 percent in March, compared to the 0.8 percent contraction in the previous month.
On a seasonally adjusted basis, non-oil retained imports of intermediate goods increased by S$0.2 billion from S$3.8 billion in the previous month to reach S$4.0 billion in March. On a yearly basis, total trade contracted 6.8 percent in March, following the 18.2 percent decline in the previous month.
Total exports grew 0.7 percent in March, compared to the 16.1 percent contraction in the previous month. Total imports declined 14.7 percent in March, following the 20.5 percent decrease in the preceding month.
On a monthly basis, total trade expanded 11.4 percent in March, in contrast to the 6.7 percent decrease in the previous month. The level of total trade reached S$79.2 billion in March, higher than the previous month’s S$71.1 billion. Total exports rose 14.5 percent in March, in contrast to the 9.0 percent decline in the previous month. Total imports increased 7.9 percent, compared to the 3.9 percent contraction in February.
On a yearly basis, electronic NODX grew 10.4 percent in March, after falling 12.5 percent in the previous month. The rise in electronic domestic exports was largely due to ICs (+24.4 percent), PCs (+123.0 percent) and diodes & transistors (+16.1 percent). Non-electronic NODX expanded 21.6 percent, in contrast to the 8.5 percent decline in the previous month.
NODX to all of the top 10 NODX markets, except Indonesia and Japan, rose in March. The top three contributors to the NODX growth in March were the EU 28, the U.S. and Malaysia.
The material has been provided by InstaForex Company – www.instaforex.com