Chart of the Day: Here's proof that NODX is still struggling to go up

It shrank 4.2% in 4Q12.

According to Ministry of Trade and Industry's Economic Survey of Singapore 2012, non-oil domestic exports (NODX) contracted by 4.2 per cent in the fourth quarter, following the 3.2 per cent decline in the preceding quarter.

The decline in NODX was due to the contraction in electronics NODX, which more than offset the increase in non-electronics NODX.

Electronics NODX plunged by 13 per cent in the fourth quarter, after declining by 8.7 per cent in the previous quarter. The contraction in electronics NODX was led by lower domestic exports of integrated circuits (ICs), parts of personal computers (PCs) and disk media products.

In contrast, non-electronics NODX increased by 0.6 per cent in the fourth quarter, reversing the 0.3 per cent decline in the third quarter.

The rise in non-electronics NODX was attributable to higher shipments of non-monetary gold, pharmaceuticals and non-electric engines and motors.