Economists expect Singapore’s key exports to continue recovery after April’s 9.3% slide eases from March
But some are less optimistic about the recovery, with OCBC noting the risk of falling short of official full-year estimates and UOB downgrading its forecast
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SINGAPORE’S non-oil domestic exports (NODX) slid 9.3 per cent from the year-ago high base in April, dragged down by a decrease in the non-electronics sector, particularly in volatile products.
This was a gentler contraction than the revised 20.8 per cent tumble charted in March, but slightly worse than the median 8.9 per cent drop forecast by private-sector economists in a Bloomberg poll.
Year on year, non-electronics exports decreased, while electronics exports resumed growth, data from Enterprise Singapore (EnterpriseSG) showed on Friday (May 17).
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