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Singapore’s exports unexpectedly increase in April

by ChemOrbis Editorial Team -
  • 18/05/2015 (13:53)
According to data released by International Enterprise Singapore, the country’s exports unexpectedly rose in April owing to strong demand from Europe. Singapore’s non-oil domestic exports rose 2.2% on the year in April while economists’ initial estimates called for a decrease of 4.2% in a survey conducted by Reuters.

On a monthly basis, however, the country’s non oil domestic exports fell 8.7% in April. Exports to Europe rose 11.4% from a year earlier after posting a gain of 56.2% in March. However, shipments to China and the US weakened, which declined 5.1% and 8.3% year over year, respectively.

The data also showed that non-oil domestic exports of electronics decreased 3.8% year over year in April after increasing 10.4% in the previous month while pharmaceuticals rose 7.5% on the year following a 65.9% increase in March.
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