NODX expansion slows in April as electronic exports slip

NODX grew by 2.2% last month.

Data released today by IE Singapore showed that non-oil domestic exports (NODX) recorded a modest 2.2% year-on-year growth in April, a significantly slower pace of expansion following the 18.5% surge in March.

Electronic exports fell by 3.8% in contrast to the 10.4% expansion in March. The contraction in electronic domestic exports was largely due to a 75.1%crash in exports of integrated circuit parts, an 18.4% drop in exports of PC parts, and a 44% crash in exports of consumer electronics.

Meanwhile, non-electronic NODX expanded by 4.7% in April, following the 21.6% increase in the March. The growth in non-electronic NODX was led by a surge in exports of structures of ships & boats and non-electric engines & motors, as well as an increase in pharmaceuticals exports.