2023.04.1700:40:00UTC+00Singapore Non-Oil Domestic Exports Surge 18.4% In March

The value of non-oil domestic exports in Singapore spiked 18.4 percent on month in March, Singapore's Department of Statistics said on Monday.

That blew away expectations for an increase of 1.7 percent following the downwardly revised 9.2 percent drop in February (originally -8.0 percent).

On a yearly basis, NODX sank 8.3 percent - but that also beat forecasts for a tumble of 20.8 percent following the downwardly revised 15.8 percent slide in the previous month (originally -15.6 percent).

The trade balance showed a surplus of SGD 6.166 billion, beating forecasts for a surplus of SGD 5.881 billion and down from the downwardly revised SGD6.687 billion surplus a month earlier (originally SGD 6.708 billion).