Singapore's non-oil domestic exports fall 15.6% in March (Amended)

SINGAPORE'S non-oil domestic exports (NODX) plunged 15.6 per cent year on year in March, proving that the 2.0 per cent rise in February was what private-sector economists had predicted - a "one-month wonder".

Month on month, the NODX rose a seasonally adjusted 0.2 per cent, compared to the 4.2 per cent drop in the previous month, according to trade promotion agency International Enterprise Singapore.

Except for Japan and Hong Kong, shipments to Singapore's all 10 major markets fell. The European Union, China and Indonesia were the biggest contributors to March's NODX contraction.

The electronic NODX tumbled 9.1 per cent year on year, after a 0.7 per cent increase in February. Non-electronic NODX also reversed the previous month's 2.6 per cent rise to fall 18.0 per cent in March.

Non oil re-exports slipped 2.4 per cent in March, compared to 1.8 per cent increase in February.

An earlier version of the story stated the NODX dipped a seasonally adjusted 0.2 per cent. The correct version is that the NODX rose a seasonally adjusted 0.2 per cent. The story above has been revised to reflect this.