Singapore NODX up 18.4% in December 2021
NORX, meanwhile, was also up by 26% in the same month.
The country’s non-oil domestic exports (NODX) saw a growth of 18.4%, according to statistics released by Enterprise Singapore.
This follows a 24.2% expansion from the previous month, with contributions from both electronics and non-electronics.
When compared on a month-on-month (MoM) seasonally adjusted (SA) basis, NODX was up 3.7% in the same month, following the previous statistic of 1%. Non-electronic NODX grew to reach $17.1b in the month, whilst electronics dipped.
Meanwhile, non-oil retained imports of intermediate goods (NORI) jumped to $7.1b, a $0.7b from the previous month’s $6.4b.
Overall, total trade was up by 31.4% year-on-year for the month, overlapping the 31.3% growth from the previous month. Exports were up by 28%, whilst imports followed suit with a 35.4% increase from the previous month. Compared on an MoM SA basis, total trade increased by 4.2% for the month, following a 2.7% growth in November.
Total trade reached $107.6b in December, up from November’s $103.3b.
In terms of NODX, electronics also jumped 13.6% in the month, with PCs, ICs’, and disk media products increasing by 17.8%, 32.5% and 12.2%, respectively.
Non-electronic products, meanwhile, followed the same sentiment with a 19.9% growth, following a previous rise of 22.6%. Pharmaceuticals, specialised machinery, and petrochemicals saw the most contribution with growths of 72.3%, 22.5%, and 28.4%, respectively.
NODX to top markets also rose in December, with the largest contributors being China, Indonesia, and EU seeing increases of 36.3%, 66.1%, and 32.5%, respectively.
Oil domestic exports climbed by 62.4% in the same period, due to a low base from the previous year. Exports to Australia, Malaysia, and Indonesia saw the most contribution with 328.6%, 66.5% and 62.7%, respectively.
Non-oil re-exports (NORX) also echoed this growth, with a 26% year-on-year increase. This continues a streak set by the previous month’s increase of 20.3%, with both electronics and non-electronics increasing.
Leading the electronics NORX category were ICs, PCs, and diodes and transistors, with growths of 39.4%, 90.1%, and 10.8%, respectively. Meanwhile, for non-electronic products, non-monetary gold, non-electric engines and motors, and specialised machinery saw the most contribution with 143.8%, 38.3%, and 61.8%, respectively.