ASEAN KEY DESTINATIONS
Singapore’s exports dip 3.3% in November
SINGAPORE: Non-oil domestic exports (NODX) in Singapore dipped 3.3 per cent in November, after registering flat growth the previous month, according to data released by trade agency International Enterprise (IE) Singapore on Thursday (Dec 17).
On a month-on-month basis, NODX was down 3.8 per cent, compared with the 0.3 per cent decline in October.
Exports of electronic products grew by 0.7 per cent on a year-on-year basis in November in contrast to the 3.2 per cent decrease in the previous month. The growth was largely due to telecommunications equipment (41.4 per cent), other computer peripherals (80 per cent), and diodes and transistors (6.5 per cent), the trade agency said.
Non-electronic exports declined by 5.1 per cent, compared with the 1.4 per cent rise in the previous month. The decline was led by pharmaceuticals (-12.5 per cent), structural parts (-91.3 per cent) and food preparations (-24.6 per cent).
Exports to all of the top 10 markets – except the US, Japan, Thailand and South Korea – fell last month. The top contributors to the decline were China, Malaysia and the European Union, according to IE Singapore, which drives Singapore’s external trade.
Non-oil re-exports (NORX) expanded by 5.1 per cent year-on-year in November, following the 6.1 per cent growth in the previous month, due to an increase in both electronic and non-electronic re-exports.
Electronic re-exports increased by 7.7 per cent last month, after the 13.1 per cent growth in October. The expansion was driven by ICs (6.9 per cent), diodes and transistors (23.1 per cent), and telecommunications equipment (13.1 per cent).
Non-electronic re-exports rose by 2.3 per cent, compared to the 1.4 per cent decline in October. The rise was due to pharmaceuticals (100.3 per cent), aircraft parts (35.8 per cent) and alcoholic beverages (53.8 per cent), IE Singapore said.
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