Pharma shipments lift Singapore exports for third straight month

19-May-2020 Intellasia | Reuters | 6:02 AM Print This Post

Singapore’s annual exports rose for the third straight month in April, bolstered by a sharp rise in pharmaceutical shipments, official data showed on Monday.

Non-oil domestic exports (NODX) rose 9.7 percent on a year-on-year basis, easing from a 17.6 percent jump the month before, data from trade agency Enterprise Singapore showed. The median of seven economists’ estimates in a Reuters survey had forecast a 5 percent decline.

On a seasonally adjusted month-on-month basis, exports fell 5.8 percent in April after expanding 12.8 percent in March.

Pharmaceutical exports, which can be volatile, rose 174.3%, growing from a low base a year ago.


Category: Singapore

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