Non-oil domestic exports fall 20.6% YoY in December
Decreases in both electronics and non-electronics exports drove the decline in NODX.
Non-oil domestic exports (NODX) declined further in December, falling 20.6% from a high base a year ago.
Based on Enterprise Singapore's report, the decreases in electronic (-17.9% YoY) and non-electronic product exports (-21.3% YoY) drove the decline in NODX.
ICs, disk media products and parts of PCs which contracted by 26.0%, 36.5% and 41.7%, respectively, contributed the most to the decrease in electronic exports.
Meanwhile, the decline in non-electronic NODX was due to the contraction in non-monetary gold (-63.3%), specialised machinery (-16.6%) and primary chemicals (-55.6%).
In terms of markets, the largest contributors to NODX contraction in November were China (-31.8%), Indonesia (-35.4%) and Hong Kong (-34.6%).
Non-oil re-exports (NORX) also fell in December, decreasing by 7.2%.
Oil-domestic exports, on the other hand, expanded in December by 24.6% YoY.
Overall, exports declined by 7.1% YoY.
With a decline in total exports and imports (-8.2%), total trade decreased by 7.7% in December.