Surprise 11.6% surge in non-oil exports

Exports rebounded strongly in May after months of decline in a stunning turnaround from April.

Non-oil domestic exports surged 11.6 per cent last month over the same period last year - the best performance since an 18.5 per cent jump in March last year.

However, economists cautioned against celebrating as May's jump could well be just a blip against a larger trend of falling trade activity.

The year-on-year expansion came largely via a 19 per cent jump in non-electronics exports, led by segments such as pharmaceuticals.

This outweighed the decline in electronics exports, which sank 6 per cent last month, following a 7.4 per cent contraction in April.

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A version of this article appeared in the print edition of The Straits Times on June 18, 2016, with the headline 'Surprise 11.6% surge in non-oil exports'. Print Edition | Subscribe