Non-oil domestic exports grow 16.8% YoY in January

Both electronics and non-electronics NODX rose last month.

Non-oil domestic exports (NODX) expanded 16.8% YoY in January, following a 1.5% decline in December. Enterprise Singapore (EnterpriseSG) attributed the increase to electronics and non-electronics  NODX growths.

In January, electronic NODX climbed 0.7% YoY. Diodes & transistors, PCs and printed circuit boards (PCB), which grew by 9.3%, 5.7% and 34.3%, respectively, contributed the most to the increase in electronic exports.

Non-electronic NODX, which expanded by 21.2% YoY, received a boost from specialised machinery (+41.1% YoY), non-monetary gold (198.7% YoY)  and pharmaceuticals (9.9%). 

January also saw an expansion in NODX to Singapore’s top markets, with China (+101.3%), the US (+35.4%) and Hong Kong (+60.8%) being the largest contributors to the increase.

Like NODX, oil domestic exports and non-oil re-exports (NORX) rose in January, climbing 6.2% YoY and 20.5% YoY, respectively.

With a growth in total exports (16.7% YoY) and total imports (+11.1% YoY), total trade expanded by 14.1% in January.