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Singapore NODX bounces back, sees 11.5% jump in November
14.6% surge in non-electronic products boosted NODX.
It wasn't until last month when Singapore's non-oil domestic exports ended its long streak of declines with a surprise 11.5% jump.
According to the latest data by the International Enterprise Singapore, NODX was supported by the increase in both electronic and non-electronic exports. Singapore's NODX recovered from its 12% decline in October, which was primarily dragged by non-electronic exports.
For the month of November, electronic NODX grew by 3.5%, compared to 6% decline in the previous month. The increase is on the back strong exports of ICs (10.6%), parts of PCs (30.5%) and disk media products (9.7%).
Meanwhile, non-electronic NODX expanded at a surprising pace of 15.3% in November, in contrast to the 14.6% decline in the previous month. This improvement was largely led by pharmaceuticals (44.8%), specialised machinery (64.7%) and petrochemicals (13.9%).
The oil domestic exports also saw an increase in the said month, soaring 20.9% after a measly 2.3% in the previous month. Non-oil re-exports, on the other hand, recorded a 3.1% growth.
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