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Singapore's NODX continues to surprise with 9.7% growth in April

Amala Balakrishner
Amala Balakrishner5/18/2020 10:10 AM GMT+08  • 4 min read
Singapore's NODX continues to surprise with 9.7% growth in April
“Pharmaceuticals formed the bulk of the growth in NOXD in April 2020, growing from the low base a year ago,” the trade agency said.
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SINGAPORE (May 18): Against expectations of a slowdown from the Covid-19 outbreak, Singapore’s non-oil domestic exports (NODX) continued its growth trajectory in April following a sharp increase in pharmaceutical shipments.

Official figures released by trade agency Enterprise Singapore on Monday pointed to a 9.7% y-o-y growth in April, compared to a 17.6% expansion logged in March.

Singapore’s latest export figures beat the 5% decline forecast by private-sector economists in a Reuters poll. This follows expectations of a slowdown in global trade following lockdowns and movement restrictions which have disrupted global supply chains.

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