SINGAPORE  – Singapore’s export sector delivered a powerful performance in April, significantly outpacing analysts’ expectations and signaling robust momentum in both electronic and non-electronic trade. According to fresh data released by Enterprise Singapore, non-oil domestic exports (Nodx) surged 12.4% year-on-year, more than double the growth seen in March and nearly triple the 4.3% rise forecast by a Bloomberg survey.

Electronics Exports Power Ahead

Leading the charge were electronics exports, which jumped 23.5% in April compared to the same month last year. This marked a substantial acceleration from the 12.2% growth recorded in March. Key drivers included personal computers, disk media products, and integrated circuits, reflecting heightened global demand in both consumer and industrial sectors.

Gold and Machinery Boost Non-Electronics Sector

Non-electronic exports also saw a strong upswing, rising 9.3% year-on-year, up from March’s revised 3.7% gain. The standout contributor was non-monetary gold, which soared 80.4%, signaling renewed investor interest in precious metals and Singapore’s role as a key regional trading hub. Other major contributors included structures of ships and boats, and specialised machinery, which collectively rose 7.2%.

Exports to Key Asian Markets Surge

Singapore’s trade ties with regional partners deepened significantly in April.

• Exports to Indonesia skyrocketed 111.2%, led by ship structures, gold, and personal computers, following a 62.9% rise in March.
• Shipments to Taiwan climbed 47.4%, bolstered by strong demand for specialised machinery, integrated circuits, and measuring instruments.
• Nodx to South Korea grew 38.1%, fueled by a similar mix of high-tech exports including PCs and chips, reflecting broader regional tech recovery.

Global Trade Headwinds Eased

Analysts noted that the April export data points to a sustained recovery in global electronics demand, possibly linked to improving semiconductor cycles and easing inventory overhangs. The surge in non-monetary gold exports may also reflect increased demand amid geopolitical uncertainties and currency volatility.

With both electronic and non-electronic exports gaining ground, Singapore’s trade sector is showing resilience and adaptability. Economists expect the upbeat trend to continue, provided global demand remains steady and supply chains hold firm.

Source: Enterprise Singapore, Bloomberg, The Straits Times, Nikkei Asia, CNA