Singapore registered a jump in its non-oil domestic export (NODX) of 11.4% in August which is comparatively higher than what it recorded in the previous month of 7%.
On a month-on-month seasonally adjusted basis, NODX decreased by 3.9% in August 2022, after the previous month’s 1.4% growth. Both electronics and non-electronics declined. On a SA basis, the level of NODX reached S$17.1 billion in August 2022. This was lower than the previous month’s S$17.8 billion, though higher than levels a year ago
On a y-o-y basis, electronic non-oil re-exports (NORX) grew by 5.2% in August 2022, following the 8.4% increase in July 2022. The growth in electronic NORX was due to ICs (+3.9%), diodes & transistors (+34.9%) and telecommunications equipment (+19.8%)
Non-electronic NORX expanded by 29.3% in August 2022, after the 46.2% increase in July 2022. The growth in non-electronic NORX was due to non-monetary gold (+363.1%), electrical machinery (+142.2%) and specialised
machinery (+41.1%)
NORX to the top 10 markets as a whole rose in August 2022. The top three contributors to NORX growth were Indonesia (+50.0%), the US (+28.1%) and Malaysia (+23.1%)
On a m-o-m SA basis, NORX declined by 6.4% in August 2022, after the 1.3% decrease in the previous month. Both electronics and non-electronics decreased. On a SA basis, the level of NORX reached S$31.4 billion in August 2022. This was lower than the S$33.5 billion in the previous month, though higher than the levels a year ago (August 2021: S$27.9 billion; 2021’s average: S$27.7 billion)
