April 17, 2013 / 12:31 AM / 4 years ago

Singapore Mar non-oil domestic exports recover from Feb

SINGAPORE, April 17 (Reuters) - International Enterprise
Singapore (IE Singapore), the country's trade agency, released
March trade data on Wednesday.
    Following are the changes in Singapore's non-oil domestic
export (NODX):
    
   month     mth/mth change    year/year
                (seasonally    change %
             adjusted) %     
    Mar           +8.0           -4.8
    Feb          -2.5*           -30.6
    Jan           -1.8           +0.4
 * revised
    
    For detailed exports data, see IE Singapore's website at www.iesingapore.com
 

    CONTEXT:
    - Non-oil domestic exports of electronics rose to S$4.5
billion ($3.64 billion) in March from S$3.8 billion in February.
    - Non-oil domestic exports of pharmaceuticals rose to S$2.3
billion from S$1.0 billion in February.
    - But exports of electronics fell 17.9 pct year-on-year.
    - Exports of pharmaceuticals rose 2.9 pct year-on-year,
reversing a steep 56.5 pct y/y fall in February.
    - Economists polled by Reuters had expected non-oil domestic
exports to rise 4.9 percent month-on-month after seasonal
adjustments but fall 6.3 percent year-on-year.    
    - The sharp drop in February non-oil domestic exports was
partly due to the Lunar New Year holiday starting on Feb. 10
this year, unlike in 2012 when it began on Jan. 23.
    - Singapore's exports tend to be unpredictable because a
significant portion involves inputs for pharmaceuticals and oil
rigs, which can vary sharply from month to month.
($1 = 1.2358 Singapore dollars)

 (Reporting by Kevin Lim; Editing by Shri Navaratnam)

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