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NODX jumps 11.6% year on year in May
NON-OIL domestic exports (NODX) jumped 11.6 per cent year on year in May after a 7.9 per cent drop in April, with shipments to the US, Taiwan and Malaysia contributing largely to the increase.
Month on month, the NODX surged by a seasonally adjusted 16.8 per cent, extending the 4.5 per cent rise in the previous month, according to the latest trade numbers released by trade promotion agency International Enterprise Singapore.
NODX exports to the European Union, China, South Korea, Hong Kong, Indonesia, Thailand and Japan fell among Singapore's top 10 markets.
Last month's increase in the NODX was driven by a rise in non-electronic NODX, which outweighed a fall in the electronic NODX, IE Singapore said.
The electronic NODX slipped 6.0 per cent year on year in May, easing from the 7.4 per cent decline in April. The non-electronic NODX grew 19.0 per cent, reversing the 8.1 per cent drop in the previous month.
Non-oil re-exports dipped 2.8 per cent, continuing the 3.0 per cent descent in April.