Non-oil domestic exports posted unexpected 18.5% jump in March

On back of robust electronic, pharma exports.

Data from IE Singapore showed that Singapore’s non-oil domestic exports (NODX) posted an unexpected 18.5% year-on-year increase in March, on back of an expansion in both electronic and non-electronic exports.

In particular, electronics exports grew 10.4% in March, in sharp contrast to the 12.5% decrease in the previous month.

The rise in electronic domestic exports was largely due to to the 24.4% growth in exports of ICs, as well as the 123% surge in PC exports and the 16.1% increase in exports of diodes & transistors.

On the other hand, non-electronic exports grew 21.6% in March. This was driven by a 65.9% growth in pharmaceuticals, a 337.6% surge in exports of structures of ships & boats, and a 433.7% increase in non-electronic engines & motors exports.