Non-oil domestic exports slip 7.2% in December

Electronic, non-electronic NODX both saw pullbacks.

Non-oil domestic exports (NODX) dipped by 7.2% YoY in December 2015 on back of a contraction in electronic and non-electronic NODX, according to a report by IE Singapore. The report also noted that this slip is worse than November 2015’s 3.4% pullback.

Electronic NODX inched up by 0.3% in December 2015, in contrast to the preceding month’s 0.6% growth. The report asserted that the decline was due largely to ICs (-11.3%), parts of PCs (-13%), and disk drives (-22%).

Meanwhile, non-electronic NODX contracted by 10.3% in December 2015, following the 5.1% pullback in the preceding month. The slide in non-electronic NODX was led by petrochemicals (-17.5%), primary chemicals (-41.8%), and civil engineering equipment (-43.5%).

On a YoY basis, total trade contracted by 8.4% in December 2015, following the 6.8% pullback in the previous month. Total exports slipped by 6.4%, following November 2015’s 7.6% pullback. Meanwhile, total imports tumbled by 10.6% in December 2015, following the preceding month’s 5.8% decline.

The report also noted that NODX to all of top ten NODX markets, except the US, Japan, and Hong Kong, saw a decline in December 2015. In particular, China, South Korea, and Taiwan were the top contributors for the NODX pullback.