NODX expanded by 4.2% in February

Total trade declined by 3.3% YOY.

Non-oil domestic exports (NODX) increased in February compared to the previous month, according to the latest data from Enterprise Singapore.

NODX grew by 4.2% in February, driven by non-electronic and electronic exports. Non-oil re-exports (NORX) likewise posted a 2.7% increase. These came of the heels of 12.7% and 8.8% growth, respectively in January.

Non-oil retained imports of intermediate goods (NORI) grew to $6.7b, or $1.2b higher than in the previous month.

However, on a year-on-year basis, total trade declined by 3.3% in February, continuing the decline of 1.9% seen in January. Total exports declined by 2% whilst imports decreased by 4.6% in February 2021.

On a year-on-year basis, electronic NODX grew by 7.4%, driven by PCs, telecommunication equipment, and diode and transistors, which expanded by 98.3%, 78.6% and 39.1%, respectively.

Non-electronic products grew by 3.3% YOY in Febrauy, driven by gold, specialised machinery, and petrochemicals, which grew by 167.5%, 35.6% and 19.3%, respectively.

Whilst NODX to top markets declined as a whole, exports to China, South Korea, Taiwan and Hong Kong grew. The European Union, Japan, and United States declined by 34.7%, 18% and 5.3%, respetively but retained their spots as the largest contributors to NODX.

NODX to emerging markets also grew in Cambodia, Laos, Myanmar, Vietnam, the Caribbean, and South Asia.

Domestic oil exports contracted by 28% YOY in February, following the 37.8% contraction recorded the month period due to low exports to the European Union, Hong Kong, and Malaysia.

On NORX, electronic products increased by 15.6% whilst non-electronic products declined by 9.5%.

The top three re-export destinations were China, Hong Kong and Indonesia, which all grew by 50.4%, 15.1% and 22.3%, respectively. Re-exports to South Korea, United States, Vietnam, Japan, and Taiwan posted a decline.

Get Singapore Business Review in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

This is supported by Lao PDR, Thailand, and Malaysia.
Re-exports, meanwhile, saw a jump by 19% in the same month.
SNACK Investment will be available for consumers for as low as $1.
The programme is done in partnership with 10x1000 Tech
The maturity date for these notes will be in 2028.
Assets in this category experienced a jump to $10b in less than three years.
CityDev, SATS, and Mapletree Logistics Trust showed the most growth.
Limiting the entry of foreign workers would not result in more jobs for Singapore, Wong said.
They also agree to explore other collaboration opportunities.
It creates a one-stop ecosystem that connects its users to EV car dealers.
Its passenger capacity remained steady at 32% of pre-COVID levels.
This would increase the opportunities for cross-border investments.
A return to pre-pandemic levels, however, could take two to three years.
HongKongLand and SGX showed the most growth today.