Singapore's non-oil domestic exports grow 2.3% in Dec 2014

THE pick-up in Singapore's non-oil domestic exports gathered strength to grow 2.3 per cent year on year in December 2014, after rising 0.8 per cent in November.

But the momentum failed to follow through month on month as the NODX inched up only a seasonally-adjusted 0.1 per cent in December, against a 2.1 per cent increase in November.

Non-electronic NODX fell month on month but the decline was outweighed by a rise in the electronic NODX, according to trade promotion agency International Enterprise Singapore.

Year on year, the electronic NODX was up 0.4 per cent in December following a 10.2 per cent tumble in November, while the non-electronic NODX grew 3.2 per cent after a 6.2 per cent jump in the previous month.

Except for China, the US, Japan and Indonesia, NODX shipments to all 10 major markets rose, with South Korea, Malaysia and the EU being the three top contributors to the increase.

Non-oil re-exports increased 8.7 per cent year on year in December, extending the 3.5 per cent rise in November - thanks to an expansion in both electronic and non-electronic NORX.