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Singapore's March exports rise 12.1% y/y, beating forecast

Reuters SG
·1-min read
Singapore's March exports rise 12.1% y/y, beating forecast

SINGAPORE, April 16 (Reuters) - Singapore's March non-oil domestic exports (NODX) expanded 12.1% from a year earlier, official data showed on Friday, driven mainly by non-electronic shipments such as petrochemicals, specialised machinery and pharmaceuticals.

Electronics shipments also benefited from a low base of comparison the previous year, Enterprise Singapore said in a statement. Export growth far exceeded forecasts in a Reuters poll for a 1% rise and compared with 4.2% growth in February.

On a seasonally adjusted month-on-month basis, exports rose 1.2% in March, following the prior month's 8.3% expansion. Economists had forecast a 1.3% drop. (Reporting by Chen Lin in Singapore; Editing by Jacqueline Wong)