Singapore's non-oil domestic exports grew at a faster-than-expected pace in March, due to the increase in both electronic and non-electronic exports, data from the National Enterprise Singapore showed Monday.
NODX expanded 16.5 percent year-over-year in March, much faster than the 7.3 percent gain expected by economists. However, that was well below the 21.1 percent surge in February.
Exports of electronic products rose 5.2 percent annually in March, following a 17.2 percent spike in the prior month. It was forecast to rise by 12.7 percent.
The increase in electronic domestic exports was largely contributed by ICs, parts of PCs and consumer electronics.
Similarly, non-electronic NODX climbed 20.8 percent yearly in March, after a 22.7 percent growth in the preceding month.
On a monthly basis, NODX decreased a seasonally adjusted 1.1 percent from February, when it rose by 1.1 percent.
For comments and feedback: editorial@rttnews.com