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Singapore non-oil domestic exports up 2.1% in February
Singapore's non-oil domestic exports (NODX) bounced back from a 10.1 per cent year-on-year plunge in January to rise 2.1 per cent in February, beating market expectations of a 2.6 per cent dip.
But month on month, the NODX failed to extend the previous month's seasonal-adjusted 0.6 per cent increase - the NODX fell 4.1 per cent in February, according to trade promotion agency International Enterprise Singapore.
Except for South Korea, Taiwan, Thailand, Malaysia, Indonesia and China, shipments to the rest of the top 10 markets rose. The EU, Hong Kong and Japan were the three biggest contributors to last month's expansion.
The electronic NODX increased 0.7 per cent year on year in February, after slipping 0.6 per cent in January. The non-electronic NODX was also up 2.7 per cent, reversing the 14.1 per cent drop in the previous month.
Non-oil re-exports also recovered from January's 12.1 contraction to jump 2.4 per cent last month.