Singapore NODX up 9.1% in November

Both electronic and non-electronic exports increased.

Singapore's non-oil domestic exports (NODX) rose 9.1% YoY in November, much slower than the 20.5% expansion last month.

According to International Enterprise (IE) Singapore, NODX rose 8.7% on a MoM seasonally adjusted basis, from $14.7b last month to $15.9b in November.

Non-oil retained imports of intermediate goods (NORI) rose by $1.1b from $6.5b in the previous month to reach $7.7b.

Meanwhile, total trade rose by 10.1% YoY. Total exports jumped by 9.6%, whilst total imports grew 10.7%.

On a seasonally adjusted basis, the level of total trade reached $85.5b, higher than the previous month’s achievement of $81.1b. Total exports increased by 6.8%, whilst total imports grew by 4%.

Electronic NODX increased by 5.2% YoY. Integrated circuits (IC), disk media products, and other computer peripherals grew by 9.6%, 21.6%, and 70.3% respectively, and they contributed the most to the increase in electronic domestic exports.

Non-electronic NODX increased by 10.6% YoY. Non-monetary gold, specialised machinery, and primary chemical increased by 43.4%, 17.1%, and 38.5% respectively, contributing the most to the growth in non-electronic NODX.

Oil domestic exports expanded by 31%, whilst NORX rose by 3.9%, after the 0.9% decline in October 2017, due to the higher shipment of electronic and non-electronic re-exports.