Non-oil domestic exports drop 13.2% YoY in September

The drop in electronics and non-electronic exports drove the overall decline.

Non-oil domestic exports (NODX) continued to decline in September, albeit, at a slower pace.

Data from Enterprise Singapore showed that NODX fell by 13.2% YoY, lower than the 22.5% contraction in August.

Enterprise Singapore attributed the decline in NODX  to the drop in electronics and non-electronic exports, which fell by 11.6% YoY and 13.6% YoY, respectively.

ICs, PCs and disk media products, which contracted by 16.2% YoY, 33.2% YoY, and 38.9% YoY, respectively, contributed the most to the decrease in electronic exports.

Meanwhile, the decline in non-electronic NODX was due to the contraction in non-monetary gold (-59.6%), pharmaceuticals (-31.2%) and food preparations (-40.0%).

In the same month, exports to Singapore’s top markets also fell, with Taiwan (-34.9%), Indonesia (-45.2%), and Malaysia (-19.8% YoY) being the largest contributors to the decline.

Apart from NODX, oil-domestic exports and non-oil re-exports (NORX) also declined in September, falling by 17.0% and 11.6%, respectively. 

With a decline in total exports (-12.7%) and imports (-11.8%), total trade decreased by 12.3% in September.