Singapore's non-oil domestic exports plunged 31% in February

Singapore's non-oil domestic exports (Nodx) fell sharply last month from a year ago, as the Chinese New Year holiday hit shipments of pharmaceuticals and oil rigs.

Nodx fell by 30.6 per cent year on year compared to a 0.4 per cent increase in January.

On a monthly basis, seasonally adjusted, Nodx dropped by 2.4 per cent in February, following the previous months's 1.8 per cent decline.

This was due to a contraction in non-electronic Nodx, which outweighed an expansion in electronic exports.

On a three-month moving average basis, exports plunged by 16.3 per cent last month, in the wake of a 6.5 per cent drop in the previous month.