Singapore's Total Exports Improve in April


In April of 2013, total exports increased by 1.6 percent from a year earlier, mainly boosted by re-exports and an improvement in external demand for the country's non-electronic products. In the same period, the trade surplus narrowed to S$ 4.21 billion, from S$ 4.46 billion recorded in the same month last year.

On a y-o-y basis, total trade rose by 2.0 percent in April 2013, following the 10.4 percent decrease in the previous month. Total exports grew by 1.6 percent in April 2013, after the 7.6 percent contraction in the previous month. Total imports increased by 2.5 percent in April 2013, in contrast to the 13.4 percent decline in the preceding month.
 
On a m-o-m seasonally adjusted basis, total trade expanded by 8.3 percent in April 2013, compared to the 4.1 percent decrease in the previous month. Total exports rose by 7.0 percent in April 2013, in contrast to the 3.2 percent decline in the previous month. Total imports grew by 9.7 percent in April 2013, compared to the 5.0 percent contraction in the previous month.
 
On a y-o-y basis, non-oil domestic exports (NODX) declined by 1.0 percent in April 2013, following the 4.8 percent contraction in the previous month, due to a decrease in electronic domestic exports which outweighed the rise in non-electronic domestic exports.
Electronic NODX contracted by 9.0 percent in April 2013, after the 17.9 percent decline in the previous month. The decrease in electronic domestic exports was largely due parts of PCs (-37.5 percent), ICs (-11.7 percent) and disk media products (-35.5 percent).
Non-electronic NODX expanded by 3.3 percent in April 2013, following the 2.3 percent increase in the previous month. The rise in non-electronic NODX was led by printed matter (+130.8 percent), petrochemicals (+19.3 percent) and aircraft parts (+28.0 percent).

On a y-o-y basis, non-oil re-exports (NORX) grew by 16.7 percent in April 2013, compared to the 1.9 percent contraction in the previous month, due to an increase in both electronic and non-electronic NORX. 
 
On a y-o-y basis, oil domestic exports decreased by 8.9 percent in April 2013, after the preceding month’s 12.4 percent contraction. The y-o-y decline of oil domestic exports was mainly due to lower sales to Malaysia (-23.7 percent), Hong Kong (-24.1 percent) and the EU 27 (-33.0 percent). On a m-o-m SA basis, oil domestic exports declined by 0.8 percent in April 2013, following a contraction of 17.6 percent in the previous month.
 
NODX to all of the top 10 NODX markets, except China, Taiwan, the US, Thailand and Hong Kong, decreased in April 2013. The top three contributors to the NODX contraction in April 2013 were the EU 27, South Korea and Malaysia.
NODX to the EU 27 declined by 13.4 percent in April 2013, following the previous month’s decrease of 16.2 percent, led by pharmaceuticals (-24.4 percent), ICs (-42.1 percent) and parts of PCs (-29.7 percent). NODX to South Korea contracted by 27.1 percent in April 2013, after the 13.3 percent decline in the  preceding month, due to specialized machinery (-74.0 percent), parts of motor vehicles & tractors (-93.5 percent) and measuring instruments (-51.2 percent). NODX to Malaysia decreased by 13.7 percent in April 2013, following the 21.3 percent contraction in the preceding month, due to ICs (-37.8 percent), parts of PCs (-40.0 percent) and glass (-87.5 percent).
 

Statistics Singapore | Joana Taborda | joana.taborda@tradingeconomics.com
5/22/2013 1:13:05 PM