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Singapore's exports up 18.5 pct in March

Xinhua, April 17, 2015 Adjust font size:

Singapore's non-oil domestic exports, a key gauge of the export performance of the small and highly open economy, rose by 18.5 percent on a year-on-year basis in March, in contrast to the 9.7 percent decrease in February, the International Enterprises (IE) Singapore said on Friday.

The country's trade promotion agency said that the increase was due to the expansion in both electronic and non-electronic non-oil domestic exports (NODX).

On a year-on-year basis, electronic NODX increased by 10.4 percent in March, in contrast to the 12.5 percent decrease in the previous month. Meanwhile, non-electronic NODX expanded by 21.6 percent in March, in contrast to the 8.5 percent decline in February.

NODX to all of the top 10 NODX markets, except Indonesia and Japan, increased in March on a year-on-year basis. The top three contributors to the NODX growth in March were the EU 28, the U.S. and Malaysia.

On a year-on-year basis, non-oil re-exports (NORX) grew by 1.7 percent in March, following the 0.9 percent increase in the previous month, said IE Singapore. The increase is due to an expansion in non-electronic NORX which outweighed the decrease in electronic NORX.

Electronic NORX decreased by 0.9 percent in March on a year-on- year basis, stopping the 4.6 percent expansion in February. Non- electronic NORX grew by 4.4 percent in March, in contrast to the 3. 0 percent decline in the previous month. Endi