Electronic, non-electronic NODX both saw pullbacks.
Non-oil domestic exports (NODX) dipped by 7.2% YoY in December 2015 on back of a contraction in electronic and non-electronic NODX, according to a report by IE Singapore. The report also noted that this slip is worse than November 2015’s 3.4% pullback.
Electronic NODX inched up by 0.3% in December 2015, in contrast to the preceding month’s 0.6% growth. The report asserted that the decline was due largely to ICs (-11.3%), parts of PCs (-13%), and disk drives (-22%).
Meanwhile, non-electronic NODX contracted by 10.3% in December 2015, following the 5.1% pullback in the preceding month. The slide in non-electronic NODX was led by petrochemicals (-17.5%), primary chemicals (-41.8%), and civil engineering equipment (-43.5%).
On a YoY basis, total trade contracted by 8.4% in December 2015, following the 6.8% pullback in the previous month. Total exports slipped by 6.4%, following November 2015’s 7.6% pullback. Meanwhile, total imports tumbled by 10.6% in December 2015, following the preceding month’s 5.8% decline.
The report also noted that NODX to all of top ten NODX markets, except the US, Japan, and Hong Kong, saw a decline in December 2015. In particular, China, South Korea, and Taiwan were the top contributors for the NODX pullback.
Do you know more about this story? Contact us anonymously through this link.