SINGAPORE: Singapore’s non-oil domestic exports (NODX), a key gauge of the export performance of the small and highly open economy, dipped 3.3 percent in November on a year-on-year basis, compared to the flat growth in October, said the International Enterprise (IE) Singapore on Thursday.
The decrease was mainly due to a contraction in non-electronic NODX which outweighed the increase in electronic NODX, said IE Singapore in the press release.
On a month-on-month seasonally adjusted basis, NODX declined by 3.8 percent in November, compared to the 0.3 percent contraction in the previous month, due to contraction in non-electronic NODX which outweighed the growth in electronic NODX.
The trade promotion agency said that electronic NODX grew by 0.7 percent in November year-on-year, compared to the 3.2 percent decline in the previous month. The expansion in electronic domestic exports was largely due to telecommunications equipment, other computer peripherals and diodes & transistors.
Non-electronic NODX decreased by 5.1 percent in November year-on-year, following the 1.4 percent rise in the previous month. The contraction in non-electronic NODX was led by petrochemicals, structural parts and food preparations.
On a year-on-year basis, NODX to all of the top 10 NODX markets except the US, Japan, Thailand and South Korea, contracted in November 2015. The top contributors to the NODX decline in November were China, Malaysia and the EU 28.
NODX to China declined by 9.1 percent in November, following the previous month’s decrease of 8.7 percent, led by food preparations, primary chemicals and structural parts.
Non-oil Re-exports (NORX) expanded by 5.1 percent in November year-on-year, following the 6.1 percent rise in the previous month, said IE Singapore, which was due to an increase in both electronic and non-electronic re-exports.
