Non-oil domestic exports drop 14.6% YoY in November
Decreases in both electronics and non-electronics exports drove the decline in NODX.
Non-oil domestic exports (NODX) fell further in November, dropping by 14.6% from a high base a year ago.
Based on Enterprise Singapore's report, the declines in electronic (-20.2% YoY) and non-electronic product exports (-12.8% YoY) drove the decrease in NODX.
ICs, disk media products and parts of PCs which contracted by 23.8%, 59.8% and 27.5% respectively, contributed the most to the decline in electronic exports.
Meanwhile, the decline in non-electronic NODX was due to the contraction in non-monetary gold (-56.3%), pharmaceuticals (-25.5%), and primary chemicals (-54.1%).
In terms of markets, the largest contributors to NODX contraction in November were China (-31.2%), Hong Kong (-41.0%) and Malaysia (-12.9%).
Non-oil re-exports (NORX) also took a tumble in November, decreasing by 4.0% following a 6.2% growth in October.
On the flip side, oil-domestic exports saw growth in November, albeit lower compared to October (9.9% YoY vs 33.1% YoY)
Overall, exports expanded by 9.2% in November.
With a decline in exports and a flat growth in imports, total trade decreased by 2.2% In November.