NODX grew a nudge slower in July

It rose just 5.8% from 6.6% in June as non-electronic NODX mellowed.

Total trade, though, picked up to expand 2.9% in July, up from 2.7% in June even as exports rallied to 0.3% growth from a 0.5% contraction the previous month.

On a y-o-y basis, NODX rose by 5.8 per cent in July 2012, following the 6.6 per cent growth in the previous month. Electronic NODX grew by 2.0 per cent y-o-y in July 2012, after the 1.6 per cent expansion in the previous month. The increase in electronic domestic exports was largely due to higher exports of ICs (+7.2 per cent), telecommunications equipment (+105 per cent) and parts of ICs (+26 per cent).

Meanwhile, non-electronic NODX expanded by 7.9 per cent y-o-y in July 2012, following the 9.2 per cent increase in the preceding month. The rise in non-electronic NODX was due to higher exports of specialised machinery (+28 per cent), petrochemicals (+12 per cent) and printed matter (+48 per cent).

Also, total imports increased by 6.0 per cent in July 2012, after the 6.1 per cent rise in the preceding month.

On a m-o-m SA basis,total trade declined by 4.6 per cent in July 2012, following the 1.3 per cent decrease in the previous month. On a SA basis, the level of total trade reached S$80 billion in July 2012. Total exports contracted by 3.7 per cent in July 2012, compared to the marginal 0.2 per cent increase in the preceding month. Total imports contracted by 5.5 per cent in July 2012, after the 2.9 per cent decline in the previous month.