Shutting down: Waning electronics demand hurts exports

Domestic exports of electronics dropped by 14% in the second quarter.

International Enterprise (IE) Singapore said, “On a y-o-y basis, domestic exports of electronics (comprising 31 percent of NODX) contracted by 14 percent in 2Q 2011, following the decline of 7.2 percent in 1Q 2011. The decrease in electronic NODX can be attributed to lower domestic exports of parts of ICs (-45 percent), disk drives (-49 percent) and parts of PCs (-18 percent).”

Here’s more from International Enterprise (IE) Singapore:

Both NODX and NORX performed worse than expected especially in the second quarter of 2011. Their performance was dragged down by sluggish electronic exports. Electronic domestic exports decreased y-o-y by 11 percent in 1H 2011 while electronic re-exports contracted by 2.7 percent in the same half of the year. Our poor electronics performance can be attributed to the following reasons:
a. Deceleration in global electronics demand in the first half of 2011.
b. Japanese earthquake and tsunami in March 2011 affected the global electronics supply chain.
c. High base effects from 2010.

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