Singapore sees strong growth in non-oil domestic exports
Singapore’s non-oil domestic exports (NODX) increased by 15.3 percent year-on-year in March, accelerating from a 4 percent rise in the previous month, according to data released by Enterprise Singapore on Friday, News.Az reports, citing Xinhua.
Electronic NODX surged by 74 percent, driven by strong demand associated with artificial intelligence as well as a low base effect from a year earlier.
In contrast, non-electronic NODX declined slightly by 0.6 percent.
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Non-oil re-exports rose by 61.4 percent year-on-year in March, extending the 21.9 percent growth recorded in February, with both electronic and non-electronic segments registering increases.
Overall merchandise trade expanded by 38.5 percent in March, following a 13.6 percent rise in the preceding month, as both exports and imports recorded growth.
By Nijat Babayev
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