NODX up 9.7% in April

Pharmaceuticals formed bulk of the growth for the month.

Non-oil domestic exports (NODX)’s expansion has eased to a 9.7% YoY rise in April compared to the 17.6% growth in March, according to data from the Enterprise Singapore. Non-electronics countered the fall observed in electronics NODX.

On an MoM basis, NODX dipped 5.8% in April as both electronic and non-electronic domestic exports fell, after the previous month's 12.8% expansion. The level of NODX reached $14.9b in April, down from $15.8b in March.

Electronic NODX slipped 0.6%YoY in April, as PCs, diodes & transistors, and disk drives contracted by 44.3%, 13.2% and 32.9%, respectively, contributing the most to the decline. On the other hand, non-electronic NODX grew 12.8% over the same period, led by surges in pharmaceuticals (+174.3%), food preparations (+66.3%) and non-monetary gold (+25%).

NODX to the top markets grew in April 2020, although exports to China, Hong Kong, Malaysia, Indonesia and Thailand declined. The largest contributors to the NODX growth were the US (+124%), the EU 27 (+106.8%) and Japan (+81.1%).

As for emerging markets, NODX crashed 30.2% in April, no thanks to South Asia (-57.2%), CLMV (-31.4%) and the Middle East (-26.9%).

Meanwhile, non-oil re-exports (NORX) fell 8.3% YoY over the same period as non-electronic re-exports outweighed the growth in electronics.

Electronic NORX inched up 6% in April, thanks to ICs (+10.7%), diodes & transistors (+28.7%) and disk media products (+31.9%). Non-electronic NORX contracted by 20.3% as piston engines (-82.1%), aircraft parts (-45.1%) and non-monetary gold (-32%) dropped.

NORX to the majority of the top 10 markets declined, except for Hong Kong, China, Taiwan and Japan. The top three contributors to the dip in NORX were Malaysia (-32.5%), the US (-12.9%) and South Korea (-16.4%).

Overall, total trade slipped 12.8% YoY in April, a wider decline from 0.2% in March. Total exports slid 12.7% YoY, whilst total imports contracted by 13% YoY.

Oil domestic exports plunged 64.9% amidst lower oil prices. Lower exports to Malaysia (-66.0%), Indonesia (-61.8%) and Panama (-94.7%) contributed to the YoY decrease of oil domestic exports. In terms of volume, oil domestic exports contracted by 22.3% YoY in April.

Also Read

SP and Federation of Malaysian Manufacturers partner to boost tech talent in manufacturing

Lee Keen Whye steps down as Santak Holdings board chair

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit