Singapore NODX rebounds with 11.6% surge in May

Non-electronic exports saw hefty expansion.

In a steep rebound from April 2016’s 7.9% tumble in non-oil domestic exports (NODX), Singapore NODX surged 11.6% in May. This is thanks to the expansion in non-electronic NODX outweighing the drop in electronic NODX.

According to a report by International Enterprise (IE) Singapore, the largest contributors to the spike were US, Taiwan, and Malaysia.

On a YoY basis, NODX to all of the top 10 NODX markets, except the EU 28, China, South Korea, Hong Kong, Indonesia, Thailand and Japan, rose in May 2016.

On a MoM seasonally adjusted (SA) basis, NODX skyrocketed 16.8% in May 2016. This comes on the heels of the preceding month’s 4.5% growth, on back of an increase in both electronic and non-electronic NODX.

On an SA basis, NODX level reached $14.9b in May 2016, shooting past the $12.7b registered in April.

Meanwhile, non-oil re-exports (NORX) slipped by 2.8% YoY in May 2016, extending the 3% pullback in the preceding month. IE Singapore reports that this is on back of a decline in electronic NORX, which outweighed the uptick in non-electronic NORX.