On a yearly basis, April non-oil exports fell 19.2 per cent to S$11.3 billion, after a 17 per cent decline in the preceding month, in line with a median 19 per cent fall in a market forecast, marking the 12th month of annual contraction.

Electronics shipments plunged 25.6 per cent in April from a year earlier, the 27th consecutive drop, following a 25.7 per cent decline in March, according to figures released by trade promotion agency, IE Singapore on Monday.

Singapore's economy has contracted each of the last four quarters compared with the preceding quarters, including an annualised 19.7 per cent in the first quarter. The government expects the economy to shrink as much as 9 per cent this year.

The government said last month it expects overseas shipments to fall as much as 13 per cent this year, worse than an earlier forecast for a decline of between 9 per cent and 11 per cent. Production fell the most in at least 13 years in March.

Non-electronics shipments, which include petrochemicals and pharmaceuticals, fell 14.8 per cent in April from a year earlier. Pharmaceutical shipments rose 41.6 per cent.

Exports to Europe in April fell 33 per cent while sales to the US dove 35 per cent. Sales to China dropped 18 per cent.

Non-oil imports fell 27 per cent in April from the same month a year earlier after dropping 25 per cent in March, said IE Singapore.

Total trade contracted by 0.6 per cent in April, compared to the 0.3 per cent fall in March, while total exports declined by 2.1 per cent, against 5 per cent the previous month. - REUTERS, AP