US Markets
Singapore Exports Expand by 15.3% on Year in March
Singapore's non-oil domestic exports rose 15.3% in March on year, driven by tech gadgetry, reported Enterprise Singapore on Friday.Electronics exports "continued to grow, supported by strong AI-related demand and a low base a year ago, driven mainly by ICs, PCs and disk media products, while non-electronics declined," said Enterprise Singapore.Exports of electronic goods from the city-state expanded by 74.0% in March, supported by strong AI-related demand and a low base a year ago, reported the government agency.Outbound shipments of integrated circuits, also known as chips or semiconductors, rose by 113.8% in March on year, said officials.In contrast, prepared food exports in March declined by 42% on year, added officials.Exports in March rose the most, on year, to Hong Kong, Taiwan and China, while outbound shipments to Indonesia, the EU 27, the US and Thailand declined.As a regional port and hub, Singapore also imports and then re-exports goods, sometimes through free trade zones, without altering the merchandise in any meaningful fashion.Singapore's non-oil re-exports expanded by 61.4% in March, extending the 21.9% rise in February, with the expansion driven primarily by electronics, said Enterprise Singapore.
^STI