NODX eases down growth to 5% in August

The growth in non-electronic NODX outweighed the declines in electronics.

Singapore’s non-oil domestic exports (NODX) grew by 5% YoY in August, which is lower compared to the 11% expansion recorded in July 2018, Enterprise Singapore (ESG) revealed. The August expansion was pushed by the growth in non-electronic NODX which outweighed the decline in electronics.

On a MoM basis, NODX rose 0.4% from the July’s 3.6% MoM growth. Enterprise Singapore noted that NODX hit $15.6b in August which is similar to the previous month. Meanwhile, non-oil retained imports of intermediate goods (NORI) dropped by $1.1b to $5.4b in August.

The growth in total trade eased down to 13.3% YoY from 17.4% YoY in July. Total exports jumped 13.5% in August after the 13.3% growth from the previous month whilst total imports’ expansion cooled down to 13.2% from a growth of 22% in July.

According to ESG, electronic NODX slipped 1.5% YoY, following the 5.8% decrease in July. Diodes & transistors, parts of PCs and ICs fell by 28.8%, 47.8% and 1.% respectively, contributing the most to the decrease in electronic domestic exports.

Meanwhile, non-electronic NODX grew 7.8% in August 2018, which is lower compared to the 18.6% expansion in July. Growth in food preparations segment surged by 82.8% whilst pharmaceuticals (+33.4%) and measuring instruments (+22.2%) also saw significant growth rates.

NODX to the majority of the top 10 markets rose in August 2018, except China, South Korea, Hong Kong and Japan. US (29.3%) was the largest contributor to the increase, followed by the EU (+14.1%) and Indonesia (+27.6%).

Meanwhile, growth of NODX to emerging markets cooled down to 27.7% in August, following the 41.1% expansion in July.

Oil domestic exports grew by 36%, cooling down from the 38.2% rise in July. The August growth was backed by higher sales to Malaysia, Indonesia, and Hong Kong. In volume terms, oil domestic exports dipped 0.2% in August 2018.

For non-oil re-exports (NORX), growth jumped to 14.1% extending the 8.4% increase in July amidst the growth in both electronic and non-electronic NORX.

According to ESG, electronic NORX inched up 1.2% YoY due to ICs (+3.9%), telecommunications equipment (+33.9%) and parts of PCs (+5.9%). On the other hand, non-electronic NORX expanded by 29.7% in August following the 23.4% rise from last month amidst the growth in non-monetary gold (+314.5%), non-electric engines & motors (+102.9%) and electrical circuit apparatus (+86.6%).

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. 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