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BT Explains: Singapore's non-monetary gold trade

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Annabeth Leow

Annabeth Leow

Published Tue, Apr 19, 2022 · 07:13 PM

SINGAPORE’S non-oil domestic exports (NODX) stayed positive in March with the help of non-monetary gold shipments, which grew by 86.5 per cent year on year.

The United States was a significant end-market for non-monetary gold for the month, according to data from Enterprise Singapore (ESG) released on Monday (Apr 18).

And “non-monetary gold seems to be keeping headline NODX to China positive, with miscellaneous transactions jumping by nearly 10 times from last year” as well, Maybank economist Lee Ju Ye added.

GoldTradeSingapore NodxBT Explains

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