NODX falls 6.4% YoY in Q2 as non-electronics decline

Non-electronic NODX declined 9.2% YoY. 

Non-oil domestic exports (NODX) fell by 6.4% year-on-year in Q2 2024, a sharper decline compared to the 3.4% decrease in Q1 2024.

Enterprise Singapore (EnterpriseSG) attributed the contraction to the decline in non-electronics NODX.

In Q2, non-electronic NODX declined 9.2% YoY. 

Pharmaceuticals,  non-monetary gold  &  food preparations, which fell by 50.5%, 36.7% and 7.6%, respectively, contributed the most to the dip in non-electronic NODX.

On the other hand, electronic NODX improved, increasing by 3.8% YoY, driven by PCs, ICs, and other computer peripherals grew by 58.4%, 7.6% and 668.0%, respectively.

Q2 also saw a contraction in NODX to Singapore’s top markets, with the US (-20.9% YoY), the EU 27 (-28.3% YoY) and Taiwan (-12.8% YoY) being the major contributors to the decrease.

Unlike NODX, oil domestic exports and non-oil re-exports (NORX) expanded in Q2, climbing 19.0% YoY and 11.9% YoY, respectively.

Meanwhile, total trade expanded by 10.1% YoY in Q2.