Singapore’s NODX recovers with a lower-than-expected decline of 0.7% in 2014

On the back of stronger electronic and non-electronic shipments.

Despite declining, Singapore’s 2014 NODX was a far better performer than 2013’s NODX which experienced a decline of 6.0%.

On a y-o-y basis, NODX grew by 0.5 per cent in 4Q 2014, following the previous quarter’s expansion of 1.1 per cent, on higher shipments of non-electronic NODX which outweighed the decrease in electronic NODX.

According to official data released by International Enterprise (IE) Singapore, NODX contracted by 0.7 per cent in 2014.

NODX declined by 0.7 per cent in 2014 which was higher than IE’s projected 2014 growth of -1.5 to -1.0 per cent. 8.

Electronic NODX declined by 9.4 per cent in 2014, following the 11.3 per cent contraction in the previous year. Non-electronic NODX rose by 3.3 per cent in 2014, compared to the 3.3 per cent decline in 2013. 9.

Electronic domestic exports decreased by 4.5 per cent in 4Q 2014, following the previous quarter’s 6.3 per cent decline. Non-electronic NODX rose by 2.8 per cent in 4Q 2014, after the 4.4 per cent growth in the previous quarter.

On a q-o-q SA basis, NODX declined by 0.9 per cent in 4Q 2014, in contrast to the 2.3 per cent growth in 3Q 2014, on lower shipments of both electronic and non-electronic NODX.

Electronic domestic exports contracted on a q-o-q SA basis by 0.7 per cent in 4Q 2014, compared to the previous quarter’s 2.0 per cent rise. Non-electronic NODX declined by 1.0 per cent in 4Q 2014, in contrast to the 2.5 per cent increase in the previous quarter.