According to recent figures by International Enterprise (IE) Singapore, non-oil domestic exports fell by 1.3% last month compared to the figure in March, after jumping 10% in March and 1.6% in February.

Compared with the situation a year ago, exports remained in negative territory. They dropped nearly 20% last month compared to exports in the same period last year, moving into their 12th month of decline.

However, although last month's export performance was worse than expected, most economists still believe the decline in exports is stabilising. And exports in the critical tech sector has bottomed since the lowest point was registered in January this year.

However, the good news is that most categories of electronic exports shrank at a slower pace in April than in March 2009, although the sector remains in a severe slump and is now in its 25th straight month of decline.

Non-electronic exports, however, contracted more sharply last month, led by reduced shipments of petrochemicals, pumps and disk media products, said IE Singapore. Petrochemical exports, in particular, plunged 39.2% last month compared to the figure a year ago, on top of a 31.6% fall in March.

But one potential bright spot is drug exports, which surged almost 42% last month compared to the figure in the same period last year, reversing a 3.8% contraction in March and making it by far the best performing category of exports last month.