Singapore’s non-oil domestic exports (NODX) rose at a slower pace of 6 per cent in April, down from the 11.9 per cent expansion in March. This increase was driven by exports of specialized machinery, which grew by 54.3 per cent, in line with robust semiconductor demand. Petrochemicals also rose by 63.3 per cent after declining amid a global downcycle, while primary chemicals grew 104.6 per cent from a low base a year ago. Electronic NODX also expanded by 10.9 per cent, mainly due to higher shipments of personal computers, diodes and transistors, and integrated circuits. On a month-on-month seasonally adjusted basis, NODX declined by 8.8 per cent after the previous month’s 1.1 per cent increase, with both non-electronic and electronic exports falling. On a seasonally adjusted basis, NODX reached S$15.4 billion in April, lower than the previous month’s S$16.9 billion.
NODX to the top markets as a whole declined in April, mainly due to the United States, European Union and Japan. Exports to the US contracted by 42.3 per cent, following a 19.8 per cent decline in the previous month. This was due to reduced shipments of non-monetary gold, which recorded a 99.8 per cent fall, as well as food preparations and disk media products. Exports to the European Union shrank by 30.2 per cent due to lower shipments of pharmaceuticals, miscellaneous manufactured articles and medical apparatus. Shipments to Japan declined by 33.2 per cent after falls in exports of pharmaceuticals, specialized machinery and optical goods.