NODX nudges up 6.8% in June

Non-electronic NODX in particular went into overdrive as pharmaceuticals, specialised machinery and printed matter all grew by double-digits.

On a y-o-y basis, non-oil domestic exports (NODX) rose by 6.8 per cent in June 2012, following the 3.2 per cent growth in the previous month, due to an increase in both electronic and non-electronic domestic exports, according to new data from International Enterprise Singapore.

Electronic NODX grew by 1.6 per cent y-o-y in June 2012, which was a bit slower than the 3.9 per cent expansion in the previous month. The increase in electronic domestic exports was largely due to higher exports of ICs (+6.8 per cent), PCs (+51 per cent) and disk drives (+19 per cent).

Non-electronic NODX, in contrast, expanded by 9.4 per cent y-o-y in June 2012, more than three times its growth pace of 2.8 per cent increase in the preceding month. The rise in non-electronic NODX was due to higher exports of pharmaceuticals (+24 per cent), specialised machinery (+25 per cent) and printed matter (+72 per cent).

As NODX improved, oil domestic exports contracted by 2.8 per cent in June 2012, compared to the preceding month’s 22 per cent increase. The y-o-y decline in oil domestic exports was mainly due to lower sales to Hong Kong (-38 per cent), India (-80 per cent) and Liberia (-8.5 per cent).

In volume terms, oil domestic exports grew by 4.3 per cent in June 2012, compared to the 21 per cent expansion in the previous month. On a m-o-m seasonally adjusted basis, oil domestic exports decreased by 14 per cent in June 2012, in contrast to the 4.6 per cent rise in the previous month.