Singapore NODX grows 3.1% in December

The growth in non-electronic exports outweighed the decline in electronics.

Singapore's non-oil domestic exports (NODX) rose by 3.1% in December, albeit slower than the 9.1% growth in November, International Enterprise (IE) Singapore revealed.

According to an announcement, the increase was due to the growth in non-electronic exports which outweighed the decline in electronics.

On a MoM seasonally adjusted basis, NODX dipped 5% to a value of $15.1b. This was down from the $15.9b in the previous month, albeit higher than the $14.2b a year ago.

Non-oil retained imports of intermediate goods (NORI) declined by $1.3b from $7.4b in the previous month to reach $6.1b.

Electronic NODX fell by 5.3% in December compared to the 5.1% growth last month. Integrated circuits (IC), parts of personal computers, and diodes & transistors declined by 6.0%, 27.7%, and 8.6%, respectively, and they contributed the most to the decline in electronic domestic exports.

Non-electronic NODX rose by 6.8% following the 10.6% expansion in November.

Specialised machinery, non-electric engines & motors and measuring instruments increased by 32.9%, 124.7%, and 18.3%, respectively, contributing the most to the growth in non-electronic NODX.

NODX to the top 10 markets as a whole grew in December 2017, albeit shipments to Hong Kong, Taiwan, China, Thailand and Indonesia declined. The largest contributors to the NODX increase were the EU, South Korea, and Malaysia which grew by 22.1%, 47.5%, and 17.7%, respectively.

Oil domestic exports grew by 19.1% in December 2017, after the 31.0% expansion in the preceding month, whilst non-oil re-exports (NORX) slipped by 7% due to the lower shipment of both electronic and non-electronic re-exports.