Singapore’s non-oil domestic exports (NODX) grew 6.4 percent in April 2022 from a year earlier. March had been stronger, at 7.7 percent. Enterprise Singapore (ESG) released the figures on Tuesday, May 17.
Electronics and non-electronics both contributed. Electronic NODX rose 12.8 percent, after 11.5 percent the month before. Integrated circuits were up 13.4 percent, telecommunications equipment 25.4 percent, and parts of integrated circuits 94.2 percent, which did the most to lift the electronics total. Non-electronic NODX gained 4.6 percent, against 6.8 percent in March. Specialised machinery (+6.9 percent), measuring instruments (+18.4 percent) and structures of ships and boats (+305.6 percent) led that group.
Month to month the picture was softer. On a seasonally adjusted basis NODX fell 3.3 percent in April, after a 2.3 percent drop in March, with electronics and non-electronics both lower. The level came to S$16.6 billion, under March’s S$17.2 billion but above a year earlier.
Markets
Shipments to the top 10 markets as a whole rose, mainly on demand from Taiwan, Malaysia and the United States. Exports to Taiwan jumped 29.9 percent, helped by specialised machinery, parts of integrated circuits and measuring instruments. Malaysia took 20.7 percent more, mostly integrated circuits, electrical circuit apparatus and primary chemicals. The United States took 10 percent more, in specialised machinery, miscellaneous manufactured articles and measuring instruments.
China, Hong Kong and South Korea went the other way, with NODX to each of them lower. Exports to emerging markets slipped 1.5 percent, mainly because of the Caribbean and the Middle East. That followed a 28.9 percent fall in March.
Total trade grew 21.8 percent year on year, up from 17.6 percent in March. Total exports rose 19.5 percent and total imports 24.4 percent.
