Singapore's March Exports Show Accelerated Growth

Deep News
04/17

Singapore's non-oil domestic exports rose for the seventh consecutive month in March, exceeding expectations, driven by strong performance in the electronics sector. Enterprise Singapore reported on Friday that exports increased by 15.3% year-on-year in March. This compares with a 4.0% rise in February and a median forecast of 10.3% from a survey of seven economists. Electronics exports, a key growth driver for the city-state, surged 74.0% in March compared to the same period last year, following a revised 43.1% increase in February. The government agency noted that electronics exports were supported by robust demand related to artificial intelligence and a low base effect. Meanwhile, non-electronics exports declined by 0.6% in March, after falling 6.9% in February.

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