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Singapore’s exports fall more than expected in March

by ChemOrbis Editorial Team -
  • 18/04/2016 (10:39)
According to data released by International Enterprise (IE) Singapore, the country’s non-oil domestic exports (NODX) slumped 15.6% on the year in March, exceeding economists’ expectations, which had called for a decrease of 13.2% in a survey by Reuters. On a monthly basis, meanwhile, Singapore’s NODX edged up by 0.2%, missing analysts’ forecast of a 2.3% gain.

The greater than expected yearly drop was attributed to persistently sluggish global demand, especially from China, Singapore’s largest export destination. The decrease was driven by lower electronic and non-electronic exports, which on a monthly basis fell 9.1% and 18%, respectively, in March.

The data also showed that the country’s exports to its top 10 markets, excluding Japan and Hong Kong, declined in March.
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