Singapore: Exports fall for a third month in a row in April
May 17, 2013
In April, non-oil domestic exports (NODX) fell 1.0% over the same month last year. The figure followed the 4.8% decline observed in March and was smaller than the 1.9% decrease expected by the market. As a result, in the 12 months up to April, exports declined 4.4% over the same period last year (March: -4.2% year-on-year).
The decline reflects a drop in electronic exports, which fell 9.0% (March: -17.9% yoy). Non-electronic exports, on the other hand, added 3.3% (March: +2.3% yoy), driven by printed matter, petrochemicals and aircraft parts.
On a monthly basis, exports rose a seasonally adjusted 1.1%, which was well below the 8.0% increase tallied in March.
FocusEconomics Consensus Forecast panellists see overall nominal exports expanding 3.4% this year, which would bring them to a total of USD 448 billion. For next year, the panel projects exports to grow 8.0% to a total of USD 484 billion.