Exports rise by 7.7% in March 2022

Electronic and non-electronic exports also increased.

Non-oil domestic exports (NODX) in the Lion City increased by 7.7% in March 2022, on a yearly basis, following the 9.4% increase in February 2022, according to latest data from Enterprise Singapore.

On a yearly basis, electronic exports went up by 11.5% in March 2022, following the 11.6% growth in the previous month. This was driven by ICs, disk drives, and PCs, which went up by 21.0%, 70.4% and 11.9% respectively.

Non-electronic exports soared by 6.8% year-on-year in March 2022, following the 8.8% rise in the previous month. The growth can be attributed to non-monetary gold, pharmaceuticals, and measuring instruments.

Similarly, oil domestic exports rose by 39.2% year-on-year in March 2022, extending the 62% growth in February 2022. There were higher exports to Malaysia, Australia, and Indonesia, which contributed to the oil domestic exports growth.

In terms of volume, however, oil domestic exports went down by 19.1% in March 2022, following the 6.4% increase in February 2022.