Singapore exports down 3.3% in November

NODX to most major markets fell.

Singapore’s non-oil domestic exports booked a 3.3% year-on-year decline in November, according to data released today by IE Singapore.

This compares unfavourably with the flat growth that was recorded in October. The contraction was driven by a contraction in non-electronic exports, which outweighed the marginal gain in electronic exports.

Electronics exports inched up 0.7% in November, compared to its 3.2% growth in the previous month. Electronics rose thanks mostly to exports of telecommunications equipment, other computer peripherals, and diodes & transistors.

However, non-electronic exports contracted by 5.1% in November. The decline was led by pharmaceuticals, structural parts, and food preparations.

Exports to most top markets fell, except for the US, Japan, Thailand and South Korea. The top contributors to the NODX decline in November 2015 were China, Malaysia and the EU 28.