SINGAPORE: Singapore’s non-oil domestic exports (NODX), a key gauge of the export performance of the small and highly open economy, declined 0.5 percent in October on year, trade promotion agency International Enterprise Singapore said on Tuesday.
The gain was in contrast to the 0.3 percent growth in the previous month, and mainly due to a contraction in electronic NODX which outweighed the increase in non-electronic NODX.
On a yearly basis, electronic exports declined by 3.2 percent in October, after the 5.7 percent rise in the previous month. The contraction was largely due to parts of PCs, ICs and parts of ICs, the agency said.
Non-electronic exports expanded by 0.7 percent on-year in October, following the 1.9 percent decline in the previous month, led by pharmaceuticals, non-electric engines & motors and aircraft parts.
On a month-on-month seasonally adjusted basis, NODX increased by 1.1 percent in October, following the previous month’s 2.8 percent contraction.
