Singapore’s exports unexpectedly fall
Source: Vietnam News Agency(VAN) Time:2017-05-18 17:12:41
Illustrative image (Source: SGMoneyMatters.com)
Singapore’s non-oil domestic exports unexpectedly fell 0.7 percent year-on-year in April after five consecutive months of growth.
Data from International Enterprise Singapore (IE) on May 17 showed that exports fell on a seasonally adjusted month-on-month basis, with April’s exports down 9 percent from March.
The IE attributed the slowing export to decreases in the shipments of non-electric items (down 69.2 percent), pharmaceuticals (39.9 percent) and gold jewelry (23 percent). Meanwhile, electronic exports rose for the sixth consecutive months by 4.8 percent.
Among 10 key importers of Singapore, the European Union, Hong Kong (China), the US and Japan imported products from Singapore less than Taiwan (China), the Republic of Korea, Malaysia, Indonesia and Thailand.
Also according to the IE, the total trade in April continued the growth momentum with a 5.7-percent increase, of which imports went up 7.5 following an 18.9-percent surge in March.