Chart of the Day: NORX sees sustained recovery with 5.7% Q2 growth

The top contributors were Malaysia, the European Union, and Indonesia.

This chart from Enterprise Singapore shows how non-oil re-exports (NORX)continue to approach recovery since a slump in Q4 2017 with a 5.7% YoY growth of more than $20b in Q2 2018. Q2’s recovery is even better than the 1.5% growth recorded in Q1.

According to the agency, NORX’s YoY rise could be mainly due to higher shipment of non-electronic re-exports which outweighed the decline in electronics. The biggest contributors to the increase in Q2 2018 were Malaysia (+11.2%), the European Union (+10.7%), and Indonesia (+9.3%).E

Enterprise Singapore also noted that NORX to all top markets rose in Q2 2018, except China and Taiwan.