Singapore’s exports continue losing streak with 7.9% dip in April

Shipments to nearly all top markets slipped.

Singapore’s non-oil domestic exports declined by 7.9% year-on-year in April, following the 15.7% contraction in the previous month.

Statistics from IE Singapore show that both electronics and non-electronic exports slumped during the month. Shipments of electronic products slipped by 7.4% in April, reversing the 9.1% expansion in the previous month. Meanwhile, exports of non-electronic produts dropped by 8.1%, compared to the 18.0% contraction in the previous month.

Exports to all of the top 10 NODX markets, except the EU 28 and Hong Kong, declined in April. The largest contributors to the NODX contraction were Taiwan, South Korea and Indonesia