Non-oil domestic exports drop 9.8% YoY in April
A 20.9% drop in exports to China drove the overall decline.
Non-oil domestic exports (NODX) declined further in April, falling 9.8% YoY.
Based on Enterprise Singapore's report, the decline in exports to several of Singapore’s top markets, including China, Taiwan, and Malaysia, drove the overall drop in NODX.
Exports to the three markets fell by 20.9%, 27.5%, and 35.0%, respectively.
Enterprise Singapore also attributed the overall drop to decreases in electronic (-23.3% YoY) and non-electronic product exports (-5.8%% YoY).
ICs, PCs and disk media products which contracted by 21.1%, 50.3% and 41.6%, respectively, contributed the most to the decrease in electronic exports.
Meanwhile, the decline in non-electronic NODX was due to the contraction in petrochemicals (-32.8%), primary chemicals (-57.7%) and food preparations (-27.0%).
Oil-domestic exports and non-oil re-exports (NORX) likewise declined in April, falling by 23.7% and 20.6%, respectively.
With a decline in total exports (-18.1%) and imports (-19.5%), total trade decreased by 18.8% in April.
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