DBS: Non-oil domestic exports growth in Singapore for April may slow down

The economic research team of DBS Group stated in a research report that the non-oil domestic exports growth in Singapore in April may slow down. DBS Group said that although exports of electronic products may continue to expand, the growth rate may have slowed down due to weaker new exports and unfavorable monthly base effects. DBS Group added that the growth of non-electronic product exports may be driven by pharmaceutical products, with lower base effects and improved export orders in the second quarter. DBS Group expects that non-oil domestic exports will increase by 4.8% year-on-year, lower than the 5.4% growth in March.