Singapore's NODX dropped 6.6% in March

Blame it on electronic, non-electronic NODX.

According to International Enterprise (IE) Singapore, on a year-on-year (y-o-y) basis, NODX declined by 6.6 per cent in March 2014, compared to the 8.9 per cent increase in the previous month, due to both electronic and non-electronic NODX.

On a y-o-y basis, NODX to all of the top 10 NODX markets, except China and Malaysia, decrease in March 2014. The top three contributors to the NODX contraction in March 2014 were the EU 28, Hong Kong and South Korea.

On a y-o-y basis, NORX expanded by 18.7 per cent in March 2014, after the 15.5 per cent growth in the previous month, due to both electronic and non-electronic NORX.

On a 3-month moving average (3MMA) y-o-y basis, NODX declined by 1.0 per cent in March 2014, in contrast to the 3.5 per cent rose in the
previous month.

On a month-on-month seasonally adjusted (m-o-m SA) basis, NODX contracted by 8.9 per cent in March 2014, compared to the previous month’s 7.0 per cent expansion, due to a decrease in both electronic and non-electronic NODX.

On a SA basis, the level of NODX achieved S$13.2 billion in March 2014, lower than the S$14.5 billion registered in the preceding month.