Singapore’s exports grow at slower pace of 6.4% in April

SINGAPORE: Singapore's non-oil domestic exports (NODX) grew at a slower pace of 6.4 per cent year-on-year in April, following a 7.7 per cent growth in March.

Both electronics and non-electronics exports increased, and exports to the top 10 markets as a whole rose in April, mainly due to Taiwan, Malaysia and the US, according to official data released by Enterprise Singapore (ESG) on Tuesday (May 17).

NODX to China, Hong Kong and South Korea declined.

On a month-on-month seasonally adjusted basis, NODX decreased by 3.3 per cent in April, following the previous month's 2.3 per cent decline. Both electronics and non-electronics decreased.

On a seasonally adjusted basis, the level of NODX reached S$16.6 billion in April, lower than the previous month's S$17.2 billion, but higher than levels a year ago.

On a year-on-year basis, electronic NODX rose by 12.8 per cent in April, following the 11.5 per cent growth in the previous month.

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Integrated circuits, parts of integrated circuits and telecommunications equipment rose by 13.4 per cent, 94.2 per cent and 25.4 per cent respectively, contributing the most to the growth in electronic NODX.

Non-electronic NODX increased by 4.6 per cent in April 2022 on a year-on-year basis, following the 6.8 per cent rise the previous month.

Specialised machinery, measuring instruments and structures of ships and boats contributed the most to the growth in non-electronic NODX, increasing by 6.9 per cent, 18.4 per cent and 305.6 per cent respectively.

Artmotion Asia

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