NODX up 11.8% in July
The growth in non-electronics offset the decline in electronics.
Singapore’s non-oil domestic exports (NODX) in July 2018 grew by 11.8% following the 0.8% rise in June, Enterprise Singapore (ESG) revealed. Non-electronic exports continued to grow, whilst electronics declined.
On a seasonally adjusted basis, NODX reached $15.7b in July, higher than the $15b last month. Singapore’s total trade jumped by 17.6% thanks to higher exports (+13.7%) and imports (+22.1%).
Electronic NODX dipped by 3.8% as integrated circuits (ICs), diodes & transistors, and computer parts fell by 12%, 24.7%, and 12.3%, respectively. Meanwhile, non-electronic NODX gained 18.8% due to pharmaceuticals (+109.2%), food preparations (+120.4%), and primary chemicals (+41.3%).
NODX to the majority of the top 10 markets rose in July 2018, except Hong Kong, South Korea and Thailand. The largest contributors to the NODX increase were the US (+33.7%), Japan (+53.9%), and Indonesia (+42.8%).
Non-oil re-exports (NORX) jumped by 8.5% as the growth in non-electronic NORX (+23.9%) outweighed the decline in electronics (-4.6%).
Meanwhile, oil domestic exports grew by 38.2% thanks to higher sales to Indonesia (+87.1%), Malaysia (+53.3%), and Hong Kong (+83.8%).
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