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Singapore's non-oil domestic exports dip 0.7% in April
AFTER five consecutive months of growth, Singapore's non-oil domestic exports (NODX) saw a slight pullback of 0.7 per cent in April 2017.
The decline in non-electronic exports outweighed the growth in electronic exports, based on the latest data released by trade promotion agency International Enterprise Singapore on Wednesday.
Month-on-month, NODX declined by a seasonally-adjusted 9 per cent in April 2017, following the previous month's 1.1 per cent drop, due to the decline in non-electronic NODX which outweighed the rise in electronic NODX.
Shipments to top 10 major markets, the EU 28, Hong Kong, the US and Japan dropped in April 2017, outweighing the rise in shipments to Taiwan, South Korea, China, Malaysia, Indonesia and Thailand.
Electronic NODX rose for the sixth consecutive month. It was up 4.8 per cent year-on-year in April 2017, after growing 5.2 per cent in the previous month.
Meanwhile, non-electronic NODX dipped 2.9 per cent in April 2017, a reversal from 20.8 per cent growth in the previous month.
Non-oil re-exports (NORX) also declined marginally by 0.1 per cent in April 2017, compared to the 9.1 per cent growth in March 2017 due to lower shipment of non-electronic NORX which outweighed the rise in electronic NORX.
Total trade rose 5.7 per cent year-on-year in April 2017, continuing the growth trend in previous months.