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Update: Singapore's non-oil domestic export up 4.7% year-on-year in June

Thursday, July 16, 2015 - 08:40
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Singapore's non-oil domestic export (NODX) rose by 4.7 per cent year-on-year in June 2015, compared to the 0.3 per cent decline in the previous month, due to an expansion in both electronic and non-electronic NODX.

Singapore's non-oil domestic exports (NODX) rose by 4.7 per cent from a year ago to S$14.2 billion in June 2015 due to an expansion in both electronic and non-electronic exports.

This is in contrast to May, when NODX fell 0.3 per cent on a year-on-year basis to about S$13.2 billion.

IE Singapore said on Thursday that electronic NODX grew by 7.6 per cent in June to about S$4 billion, in contrast to the 2.5 per cent decline to S$3.8 billion in May. The increase in electronic domestic exports was largely due to PCs (+69.6 per cent), ICs (+10.8 per cent) and telecommunications equipment (+79.3 per cent).

The growth in non-electronic NODX was led by electrical machinery (+75.0 per cent), printed matter (+35.8 per cent) and non-electric engines & motors (+281.8 per cent).

NODX to all of the top 10 markets, except Indonesia, Malaysia and Taiwan, rose in June. The top contributors to the rise were the US, China and Thailand.

NODX to the US rose by 32.2 per cent in June to about S$1.5 billion, following the previous month's increase of 18.1 per cent to S$1.3 billion. The growth was led by printed matter (+3,307 per cent), non-electric engines and motors (+397.2 per cent) and structures of ships & boats.

NODX to China grew by 12.2 per cent to S$2.1 billion in June, in contrast to the 4.3 per cent contraction to S$1.9 billion in May, due to electrical machinery (+453.1 per cent), specialised machinery (+34.7 per cent) and heating & cooling equipment (+372.2 per cent). NODX to Thailand expanded by 23.6 per cent in June to S$650.2 million, following the 14.1 per cent rise in May. This was due to ICs (+133.2 per cent), disk media products (+471.2 per cent) and other specialty chemicals (+391.1 per cent).

NODX to emerging markets contracted by 6.6 per cent in June to S$2.1 billion, in contrast to the 12.6 per cent rise in the previous month. The decline in NODX to the emerging markets was due mainly to the Caribbean (-33.1 per cent) and Latin America (-10.7 per cent) and the Middle East (-9.2 per cent).

On a year-on-year basis, total trade contracted by 5.0 per cent in June to S$77.1 billion, following the 14.7 per cent decline to S$71.9 billion in the previous month.

Total exports decreased by 5.8 per cent in June to S$41.0 billion , following the 10.1 per cent contraction to S$39.2 billion in May. Total imports declined by 4.1 per cent in June to S$36.1 billion, following the 19.6 per cent decrease in May to S$32.4 billion.

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