NODX further expands with 24.2% YoY growth in November

Non-electronic products drove the increase for November.

Singapore’s non-oil domestic exports (NODX) grew further in November, increasing 24.2% year-on-year (YoY), the latest data from Enterprise Singapore (ES) showed.

Last month, NODX increased by 17.8% YoY.

The November increase was mainly due to non-electronic products, which soared by 22.7% YoY.

What contributed the most to the increase in non-electronic NODX were specialised machinery (74.4%), petrochemicals (66.0%) and primary chemicals (80.6%).

Electronics likewise grew during the month, expanding by 29.2% YoY with ICs (41.8%), PCs (54.3%) and disk media (19.4%) leading the growth.

Across markets, the largest contributors to the rise in NODX were China, Taiwan (36.5%), and South Korea, which expanded by 45.3%, 36.5%, and 57.9%, respectively.

The electronic and non electronic NODX of the top three markers are as follows:

• China: Electronic (14.3%); Non-electronic (53.1%)
• Taiwan: Electronic (61.0%); Non-electronic (14.8%)
• South Korea: Electronic (144.6%); Non-electronic (31.5%)

Meanwhile,  NODX to emerging markets also saw expansion last month, rising by 54.2%, mainly due to South Asia (67.5%), Cambodia, Laos, Myanmar, and Vietnam (CLMV) (61.5%) and Latin America (+82.4%).

Apart from NODX, oil domestic exports and non-oil re-exports also rose in November 2021, soaring by 115.9% YoY from a low base a year ago, and 20.7% YoY, respectively.

With the expansion of exports (31.3%) and imports (31.9%), total trade for the month grew 31.6% YoY.