SINGAPORE - Singapore's non-oil domestic exports (Nodx) did the unexpected in March by jumping 17.6 per cent, albeit from the low base a year ago.. Read more at straitstimes.com.
SINGAPORE - Singapore's non-oil domestic exports did the unexpected in March by jumping 17.6 per cent, albeit from the low base a year ago.
Economists polled by Reuters were expecting exports to drop 8.9 per cent with more and more countries enforcing a lockdown due to the Covid-19 outbreak and restrictions to business activity. The surge in exports was led by a 20.5 per cent surge in the shipment of non-electronics products. This came from non-monetary gold which swelled 242.5 per cent, specialised machinery and pharmaceuticals .
Exports of electronic products also grew, by 5.8 per cent, following the 2.5 per cent increase in the previous month, according to Enterprise Singapore data released on Friday .On a month-on-month seasonally adjusted basis, Nodx rose by 12.8 per cent last month, reversing February's 4.7 per cent decline.
The month-on-month gain was helped by increase in both electronic and non-electronic domestic exports.
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