Singpore exports drop in April just a blip, economists say
Non-oil exports posted a surprise fall, but analysts say it doesn’t reflect trend
Singapore’s core exports dropped in April, following five-straight months of growth, reports Nikkei Asian Review.
Export numbers were hit by a steep decline in the volatile pharmaceutical segment, but electronics shipments were strong, leading analysts to predict continued positive momentum.
The drop was most likely “a temporary, technical pullback from an exceptionally strong month in March,” Francis Tan of United Overseas Bank was quoted as saying. He added that non-oil exports “are notoriously volatile and a single month…should not veer us off-course in our longer-term view of the recovery in global trade for 2017.”