According to Enterprise Singapore , total trade declined in March 2023 due to the decrease in both oil trade and non-oil trade .
"Total trade reached S$104.0 billion in March 2023, higher than the previous month's S$96.4 billion,” it said. On a yearly basis, Singapore’s Non-oil Domestic Exports decreased by 8.3 per cent in March 2023, following the 15.8 per cent contraction in the previous month with both electronics and non-electronics declining.
EnterpriseSG noted that NODX to the top markets as a whole declined in March 2023, except for the US and South Korea.Singapore’s oil domestic exports declined by 3.5 per cent in March 2023 year-on-year, after the 5.8 per cent rise in February 2023.
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