SINGAPORE: The International Enterprise (IE) Singapore on Tuesday reported increases in growth for the countries’ non-oil domestic exports (NODX) and non-oil re-exports (NORX) in the first quarter of 2015 on a year-on-year basis.
NODX expanded by 4.8 percent in the first quarter of 2015 on a year-on-year basis, following the 0.5 percent growth in the previous quarter, mainly because of higher shipments of both electronic and non-electronic NODX, said IE Singapore in the news release.
Meanwhile, NORX increased by 5.2 percent in the first quarter of 2015, following the 1.8 percent increase in the previous quarter. The year-on-year rise in NORX can be attributed to higher shipments of both electronic and non-electronic NORX.
Singapore’s total merchandise trade declined by 10.5 percent in the first quarter of 2015 on a year-on-year basis, following the 4. 8 percent decrease in the previous quarter.
Total merchandise trade forecasts for this year are maintained between minus 7.0 to minus 5.0 percent, while NODX forecasts are maintained between 1.0 to 3.0 percent, IE Singapore said.
Singapore’s total services trade rose by 1.2 percent to reach 90.2 billion Singapore dollars (67.1 billion U.S. dollars) in the first quarter of 2015, following the 0.3 percent decline in the previous quarter.
