SINGAPORE's April non-oil domestic exports (NODX) increased 2.2 per cent year on year on strong demand from Europe, tempered by weakness from the US and China.
Shipments to Europe expanded 11.4 per cent year on year after March's 56.2 per cent surge, trade agency International Enterprise Singapore said in a statement.
This compared with a 4.2 per cent contraction forecast in a Reuters poll and an 18.5 per cent jump in March, which was the highest growth since February 2012.
On a month-on-month seasonally adjusted basis, non-oil domestic exports declined 8.7 per cent in April, beating a forecast for a 13.3 per cent slide.
Non-oil domestic April exports to China fell 5.1 per cent in year on year, but up on March by 1.1 per cent. Exports to the US fell 8.3 per cent, compared to a 19 per cent surge in March.
China's economy lost further momentum in April, adding to concerns that Beijing's growth target of seven per cent for the year is at risk even if the government rolls out additional stimulus measures.
"The US had a soft patch in the first quarter, and so far the recent economic numbers point to a weak second quarter as well," said Oversea-Chinese Banking Corp economist Selena Ling.
WORLD SHIPPING
21 May 2015 - 23:49
Singapore April exports increase 2.2pc thanks to European demand
SINGAPORE's April non-oil domestic exports (NODX) increased 2.2 per cent year on year on strong demand from Europe, tempered by weakness from the US and China.
WORLD SHIPPING
21 May 2015 - 23:49
Singapore April exports increase 2.2pc thanks to European demand
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