NODX growth nosedives to 4.3% in March

The non-electronic NODX contracted by 7.8% yoy while electronic NODX slowed to 2.8% growth.

Combined, this slowed NODX growth to single-digits from it s previous blistering 30% spurt in February that saw non-electronic NODX and electronic NODX expand by 34% and 23%, respectively, on a yoy basis.

Did Singapore fare better in total trade and oil domestic exports?

Here's more from International Enterprise Singapore:

Total Trade. On a y-o-y basis, total trade contracted marginally by 0.9 per cent in March 2012, in contrast to the 26 per cent increase in the previous month. Total exports declined by 2.2 per cent in March 2012, compared to the previous month’s 25 per cent expansion. Total imports increased marginally by 0.6 per cent in March 2012, following the 27 per cent rise in the preceding month.

On a m-o-m SA basis, total trade contracted by 2.3 per cent in March 2012, following the 4.8 per cent decrease in the previous month. On a SA basis, the level of total trade reached S$84 billion in March 2012, lower than the previous month’s achievement of S$86 billion. Total exports declined by 7.7 per cent in March 2012, in contrast to the previous month’s 1.6 per cent increase. Total imports rose by 4.1 per cent in March 2012, in contrast to the 11 per cent decline in the preceding month.

Non-oil Domestic Exports (NODX). On a y-o-y basis, NODX declined by 4.3 per cent in March 2012, in contrast to the 30 per cent increase in the previous month, due to a contraction in non-electronic NODX which outweighed the expansion in electronic NODX.

Electronic products. On a y-o-y basis, electronic NODX grew by 2.8 per cent in March 2012, following the previous month’s 23 per cent expansion. The increase in electronic domestic exports was largely due to higher exports of ICs (+9.3 per cent), telecommunications equipment (+50 per cent) and disk media products (+17 per cent).

Non-electronic products. On a y-o-y basis, non-electronic NODX contracted by 7.8 per cent in March 2012, compared to the 34 per cent increase in the previous month. The decrease in non-electronic NODX was due to lower exports of structures of ships & boats (-99 per cent), petrochemicals (-13 per cent) and primary chemicals (-15 per cent).

Oil Domestic Exports. On a y-o-y basis, oil domestic exports expanded by 9.7 per cent in March 2012, after the preceding month’s 36 per cent increase. The y-o-y growth of oil domestic exports was mainly due to higher sales to Malaysia (+26 per cent), Indonesia (+34 per cent) and Australia (+26 per cent). In volume terms, oil domestic exports increased by 1.4 per cent in March 2012, following the 18 per cent expansion in the previous month. On a m-o-m SA basis, oil domestic exports decreased by 2.3 per cent in March 2012, following a contraction of 1.1 per cent in the previous month.

Non-Oil Domestic Export Markets. On a y-o-y basis, NODX to China decreased in March 2012 while NODX to South Korea, Hong Kong, the EU 27, Malaysia, Japan, the US, Taiwan, Indonesia and Thailand increased. Among the top market countries, China (-0.9 per cent) was the top contributor to the NODX contraction in March 2012.

NODX to the China contracted by a marginal 0.9 per cent in March 2012, in contrast to the previous month’s expansion of 21 per cent, led by parts of ICs (-72 per cent), petrochemicals (-9.2 per cent) and food preparations (-45 per cent).

Emerging markets – NODX to emerging markets decreased by 43 per cent in March 2012, in contrast to the 29 per cent expansion in the previous month. The decline in NODX to the emerging markets was due mainly to the Caribbean.