Singapore February NODX up 4.9 percent as non-electronics exports grow

Singapore’s port with the monorail to Sentosa island.Singapore’s port with the monorail to Sentosa island.

This article was originally published on Monday, 18 March 2019 at 8:46 A.M. SGT; it has since been updated.

Singapore’s non-oil domestic exports, or NODX, rose 4.9 percent in February, swinging from a 10.1 percent decline in January, on a pickup in non-electronics exports, which offset declines in the electronics segment, according to data from Enterprise Singapore released on Monday.

The increase was mainly due to shipments to China, Hong Kong and the U.S., while exports to Japan, South Korea, the EU 28 and Indonesia declined, the data showed.

Electronics NODX fell by 8.0 percent on-year in February, a slower pace than January’s 15.9 percent decline, with declines in disk media products, PCs and diodes and transistors contributing the most to the contraction, Enterprise Singapore said.

Non-electronics NODX grew by 9.4 percent on-year in February, after falling 7.9 percent in January, with the increase led by non-monetary gold, pharmaceuticals and food preparations, the data showed.

Total trade in February rose 3.3 percent on-year, after rising 4.2 percent in January, the data showed.

On a month-on-month seasonally adjusted basis, NODX rose 16.0 percent in February, compared with January’s 5.7 percent decline on-month, amid growth in both electronic and non-electronic exports.

 

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