SINGAPORE — Singapore’s non-oil domestic exports rose 5.4 percent in March from the same month a year earlier, government data showed on Thursday, with shipments of both electronics and nonelectronics increasing.
This increase surpassed the Reuters poll prediction of 14.1 percent growth for March, and came after a 7.6 percent rise in February.
Details of the month-on-month seasonally adjusted change in exports were not included in Enterprise Singapore’s statement.
Exports to Taiwan, Indonesia, Hong Kong, Thailand, Japan and South Korea increased in annual terms in March, while exports to China declined.
The trade minister said on Wednesday a recession could not be ruled out in the trade-driven city-state because of US President Donald Trump’s tariff policy.
Also on Wednesday, Prime Minister Lawrence Wong said there was little comfort in the US postponing most of its proposed “reciprocal” tariffs for three months, saying the changes had already created great uncertainty around the world.
On Monday, the central bank loosened monetary policy for the second time this year, and the trade ministry lowered its economic growth forecast for 2025.