Singapore's non-oil domestic exports (NODX) fell sharply in April from a year earlier, reinforcing the weak outlook for the trade-reliant economy and keeping the possibility of further stimulus on the table.
Shrinking demand from China and the United states meant NODX slid 7.9 percent year-on-year in April, in line with the median forecast in a Reuters poll, according to data published on Tuesday by trade agency International Enterprise Singapore.
In March, overseas sales tumbled a revised 15.7 percent on-year.
On a month-on-month, seasonally adjusted basis, non-oil domestic exports in April grew 4.5 percent, beating a forecast of a 4.0 percent monthly expansion in the survey.
"Export data from Singapore as well as the region confirm persistent cyclical and structural pressures on Asian trade," said Weiwen Ng, an economist for ANZ in Singapore.