NODX further expands with 24.2% YoY growth in November
Non-electronic products drove the increase for November.
Singapore’s non-oil domestic exports (NODX) grew further in November, increasing 24.2% year-on-year (YoY), the latest data from Enterprise Singapore (ES) showed.
Last month, NODX increased by 17.8% YoY.
The November increase was mainly due to non-electronic products, which soared by 22.7% YoY.
What contributed the most to the increase in non-electronic NODX were specialised machinery (74.4%), petrochemicals (66.0%) and primary chemicals (80.6%).
Electronics likewise grew during the month, expanding by 29.2% YoY with ICs (41.8%), PCs (54.3%) and disk media (19.4%) leading the growth.
Across markets, the largest contributors to the rise in NODX were China, Taiwan (36.5%), and South Korea, which expanded by 45.3%, 36.5%, and 57.9%, respectively.
The electronic and non electronic NODX of the top three markers are as follows:
- China: Electronic (14.3%); Non-electronic (53.1%)
- Taiwan: Electronic (61.0%); Non-electronic (14.8%)
- South Korea: Electronic (144.6%); Non-electronic (31.5%)
Meanwhile, NODX to emerging markets also saw expansion last month, rising by 54.2%, mainly due to South Asia (67.5%), Cambodia, Laos, Myanmar, and Vietnam (CLMV) (61.5%) and Latin America (+82.4%).
Apart from NODX, oil domestic exports and non-oil re-exports also rose in November 2021, soaring by 115.9% YoY from a low base a year ago, and 20.7% YoY, respectively.
With the expansion of exports (31.3%) and imports (31.9%), total trade for the month grew 31.6% YoY.
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