Singapore's NODX dropped 30.6% in February

Blame it on weak electronic segment.

According to a release, on a y-o-y basis, NODX contracted by 30.6 per cent in February 2013, compared to the marginal growth of 0.4 per cent in the previous month. This is due to the due a contraction in both electronic and non-electronic NODX. 

On a 3-month moving average (3MMA) y-o-y basis, NODX declined by 16.3 per cent in February 2013, following the 6.5 per cent contraction in the previous month.

On a month-on-month seasonally adjusted (m-o-m SA) basis, NODX decreased by 2.4 per cent in February 2013, following the previous month’s 1.8 per cent decline, due to a contraction in non-electronic NODX which outweighed an expansion in electronic NODX. On a SA basis, the level of NODX reached S$13.2 billion in February 2013, lower than the S$13.5 billion registered in the previous month.

On a SA basis, non-oil retained imports of intermediate goods2 (NORI) grew by S$0.1 billion from S$5.4 billion in the previous month to reach S$5.5 billion in February 2013.

Electronic products. On a y-o-y basis, electronic NODX decreased by 27.4 per cent in February 2013, after the 5.6 per cent decline in the previous month. The contraction in electronic domestic exports was largely due to parts of PCs (-43.2 per cent), ICs (-14.6 per cent) and disk media products (-36.8 per cent).

Non-electronic products. On a y-o-y basis, non-electronic NODX decreased by 32.0 per cent in February 2013, compared to the 3.7 per cent increment in the previous month. The contraction in non-electronic NODX was led by structures of ships & boats (-99.4 per cent), pharmaceuticals (-56.5 per cent) and electrical machinery (-54.5 per cent).