non-oil domestic exports (NODX)

Experts predict that NODX will contract by -5.5% to -9% in 2023.

A 20.9% drop in exports to China drove the overall decline.

Experts expect full-year NODX to drop by 4% to 7% in 2023.

Decreases in both electronics and non-electronics exports drove the decline in NODX.

Non-oil domestic exports (NODX) declined 25% in January 2023.

Exports slightly improved in January but it will decline in the first half of 2023.

Electronics and non-electronics decreased.

Enterprise Singapore’s NODX growth projection is -2.0% to 0.0%.

Decreases in both electronics and non-electronics exports drove the decrease in NODX.

This may be dragged by the softening demand in East Asia.

This is down from the 11.4% growth in August 2022. 

In H2, RHB expects NODX to grow only by 4.0% YoY.

In July, non-oil domestic exports grew by 7.0% YoY.

In June, non-oil domestic exports grew by 8.5%.

China's slowdown is amongst the factors dampening the global trade outlook.

Consumer spending in late 2022 will be impacted by price hikes.