Exports dip amid cooling electronics demand

Non-oil domestic exports fell by 2.7 per cent in March - a far cry from economists' expectations of a 1.2 per cent increase but not as bad as February's revised contraction of 6 per cent.
Non-oil domestic exports fell by 2.7 per cent in March - a far cry from economists' expectations of a 1.2 per cent increase but not as bad as February's revised contraction of 6 per cent.PHOTO: ST FILE

The export sector's heroics last year have come back to haunt it with the latest data looking a little anaemic against the double-digit growth recorded in 2017.

Non-oil domestic exports fell by 2.7 per cent in March - a far cry from economists' expectations of a 1.2 per cent increase but not as bad as February's revised contraction of 6 per cent.

Apart from last year's high base level, global demand for electronics is finally cooling while the stronger Singdollar is making shipments pricier for overseas customers. But most experts feel that exports will continue to grow this year, just not at last year's breakneck pace.

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A version of this article appeared in the print edition of The Straits Times on April 18, 2018, with the headline 'Exports dip amid cooling electronics demand'. Print Edition | Subscribe