Singapore April exports up 0.9 pct y/y, beat forecast

Thu May 15, 2014 8:35pm EDT

SINGAPORE, May 16 (Reuters) - Singapore's non-oil exports
rose a better-than-expected 0.9 percent in April from a year
earlier, official data showed on Friday, suggesting a pickup in
global demand which appears to have shored up domestic
manufacturing activity.
    Exports were boosted by shipments to the United States and
China recording double-digit growth.
    International Enterprise Singapore (IE Singapore), the
country's trade agency, released the trade data.

 Percentage change
                                            April       March 
      Non-oil domestic exports (m/m*)         9.0        -8.9
      Non-oil domestic exports (y/y)          0.9        -6.6
      - electronics                          -8.7       -16.1
      - pharmaceuticals                      -2.0       -44.6
      - European Union                      -10.9       -27.8
      - United States                       +11.7        -1.8
      - China                               +22.6       +16.0
      Non-oil domestic exports (S$ bln)     14.62       13.85
      Non-oil re-exports (y/y)               +6.6       +18.7
      Total trade (y/y)                      +5.7       +11.4
 * m/m data is seasonally adjusted

For detailed exports data, see IE Singapore's website at www.iesingapore.gov.sg.

Forecasts for non-oil domestic exports (NODX) were centered on a
3.3 percent year-on-year dip in April, according to the median
in a Reuters poll of economists. NODX was expected to rise 4.6
percent month-on-month. 
Singapore's non-oil exports tend to be volatile because a
significant portion comprises pharmaceuticals and oil rigs that
can vary sharply from month to month.
    

 (Reporting by Jongwoo Cheon; Editing by Shri Navaratnam)