Chart of the Day: Singapore's exports to top 10 markets recover

Only exports in Hong Kong declined.

Singapore's non-oil domestic exports (NODX) to the top 10 markets expanded in May, as this chart from IE Singapore shows.

The largest contributors to the increase in NODX were China, South Korea, and the EU 28.

NODX to China expanded by 36.4% in May 2017, following the previous month’s growth of 10.9%, led by non-monetary gold (+139.8%), ICs (+62.6%) and petrochemicals (+35.2%).

Meanwhile, NODX to South Korea rose by 64.3% in May 2017, after the 56.9% growth in the preceding month, due to specialised machinery (+595.0%), measuring instruments (+195.3%) and PCs (+56.6%).

On the other hand, NODX to the EU 28 increased by 16.2% in May 2017, after declining by 36.0% in April 2017, due to pharmaceuticals (+8.3%), specialised machinery (+137.7%) and measuring instruments (+45.3%).

Only exports in Hong Kong declined.