Singapore Non-Oil Exports Rise 5.4% in March

Singapore's non-oil domestic exports (NODX) increased by 5.4% year-on-year in March, a slower pace than February's 7.6% growth and below economists' expectations. Electronics exports rose 11.9%, driven by strong shipments of personal computers, disk media, and integrated circuits, while non-electronic exports grew 3.8%, with notable gains in non-monetary gold and pharmaceuticals. Growth in non-electronic exports was about half of February's rate, reflecting a moderation in performance. Exports to most major markets such as Taiwan and Indonesia saw substantial increases, but exports to China declined by nearly 30%. Total trade expanded 3.4% year-on-year in March, also slower than the previous month's growth. Authorities noted that they are closely monitoring global market conditions and may update future export forecasts accordingly.