NODX up 7.7% in August

Non-electronic NODX jumped 8.3% during the month.

Non-oil domestic exports (NODX) grew 7.7% in August compared to a year earlier, extending the 5.5% climb in the previous month, according to the latest data released by Enterprise Singapore. This equates to $15.6b in value, higher than July’s $14.1n.

Compared to July, NODX expanded 10.5% in August, jumping from July’s 1.2% MoM increase.

Both electronic and non-electronic domestic exports rose during the month.

Electronic NODX climbed 5.7% during the month, extending the previous month’s 2.8% increase. ICs, disk media products and PCs grew by 7.1%, 11.8% and 15.2%, respectively, contributing the most to the growth in electronic NODX.

Non-electronic NODX jumped 8.3% over the same period, following the 6.9% growth previously. Non-monetary gold (+55.1%), specialized machinery (+25.7%) and food preparations (+18.9%) contributed the most to the growth in nonelectronic NODX.

On the other hand, non-oil retained imports (NORI) declined by $1.7b during the same period to reach $5.5b.

Other statistics also recorded declines, albeit at a slower pace than in July.

Total trade decreased 6.9% YoY to extend the 9% decline in July. Total exports dropped 4.7% YoY, a slower decline that last month’s 8.1% YoY decrease. Total imports also shrunk 9.4% YoY in August following the 10% slip in the previous month.

Compared to July, total trade rose 6.4% YoY, total exports improved 9.5% YoY, and total imports edged up 3.1% YoY.