Non-oil domestic exports growth slows to 2.7% in September

In August, NODX grew 10.7% YoY.

Non-oil domestic exports (NODX) rose 2.7% YoY in September, a slower expansion than the 10.7% growth in August. 

Enterprise Singapore (EnterpriseSG) attributed the increase to electronics and non-electronics NODX expansions.

In August, non-electronic NODX  grew by 2.3% YoY. 

Pharmaceuticals, specialised machinery, and other speciality chemicals expanded by 35.0%, 12.9%, and 46.2%, respectively, contributing the most to the increase in non-electronic NODX.

Electronic NODX also improved, increasing by 4.0% YoY, driven by disk media products, PCs and ICs, which grew by 64.6%, 55.0% and 4.8%, respectively.

September also saw an expansion in NODX to Singapore’s top markets, with EU 27 (37.6%), Indonesia (52.3%) and South Korea (34.9%) being the major contributors to the increase.

Like NODX, non-oil re-exports (NORX) saw a slower expansion of 3.4% YoY. 

On the other hand, oil domestic exports declined by 13.5% YoY amidst lower oil prices.

With total exports rising by 0.1% YoY and total imports expanding by 0.9%, total trade grew by 0.5% in September.