Chart of the Day: EU recovery boosted Singapore’s NODX

Exports to China remained soft.

Thanks to improving economic conditions in larger European economies, Singapore’s NODX is finally seeing better days.

According to a report by Maybank Kim Eng, by destination, growth was mostly skewed towards EU and US as shipments expanded by +56.2 YoY (Feb 2015: -2.8% YoY) and +19.0% YoY (Feb 2015: +7.5% YoY) respectively.

The increased demand from EU coincided with the improving economic conditions in larger European economies which have been registering positive numbers in terms of services PMI that indicates a recovery in domestic demand i.e Germany (Mar 2015: 55.4; Feb 2015: 54.7), Spain (Mar 2015: 57.3; Feb 2015: 56.2), France (Mar 2015: 52.4; Feb 2015: 53.4) and Italy (Mar 2015: 51.6; Feb 2015: 50.0).

Separately, economic data from the US whilst positive in general terms have come in mixed in recent weeks including the latest non-farm payroll which came in below expectations. Other dampeners was also retails sales data excluding gasoline in Feb 2015 which moderated to +4.3% YoY (Jan 2015: +6.6% YoY) which was the slowest pace recorded in over a year.

Meanwhile, NODX to China remained soft as it gained by +1.1% YoY (Feb 2015: -22.7% YoY) as the second latest economy continued to experience a slower rate of GDP expansion (1Q 2015: +7.0% YoY; 4Q 2014: +7.3% YoY) including the deceleration of industrial production (1Q 2015: +6.4% YoY; 4Q 2014: +7.6% YoY) and retail sales (1Q 2015: +10.2% YoY; 4Q 2014: +11.7% YoY). Softer domestic demand was also reflected in the slump of imports (1Q 2015: -17.6% YoY; 4Q 2014: +1.5% YoY).

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia