Exports expand for the fifth straight month by 6%

However, trade in three key trading partners continued to drag.

Non-oil domestic exports (NODX) expanded for the fifth straight month in April, by 6.0%, according to latest data from Enterprise Singapore.

While non-electronic products led this charge, growing by 4.7% in April, electronic NODX likewise grew by 10.9%.

However, NODX in top markets as a whole declined in April, particularly in the US (-42.3%), the EU 27 (-30.2%) and Japan (-33.2%). NODX to China, Malaysia, Hong Kong, South Korea, Indonesia, Taiwan and Thailand rose, as well as NODX to emerging markets such as South Asia, the rest of mainland Southeast Asia, and the Middle East.

Oil domestic exports grew by 63.8% in April, due to a low base from last year. This was driven by higher exports to Malaysia (120.2%), Indonesia (88.7%) and China (67.4%).

Non-oil re-exports (NORX) grew by 34.3% in April due to a low base last year Both electronics and non-electronics re-exports grew by 36.3% and 32.1% respectively.

Total trade grew by 26.4% in April, with exports growing by 26.6% and imports growing by 25.9%.