Pharma shipments lift Singapore exports for third straight monthPharma shipments lift Singapore exports for third straight month
An aerial view of shipping containers stacked at the port of Singapore

SINGAPORE (Reuters) – Singapore’s annual exports rose for the third straight month in April, bolstered by a sharp rise in pharmaceutical shipments, official data showed on Monday.

Non-oil domestic exports (NODX) rose 9.7% on a year-on-year basis, easing from a 17.6% jump the month before, data from trade agency Enterprise Singapore showed. The median of seven economists’ estimates in a Reuters survey had forecast a 5% decline.

On a seasonally adjusted month-on-month basis, exports fell 5.8% in April after expanding 12.8% in March.

Pharmaceutical exports, which can be volatile, rose 174.3%, growing from a low base a year ago.

(Reporting by Aradhana Aravindan and John Geddie in Singapore; Editing by Kim Coghill)