SINGAPORE: Singapore’s non-oil domestic exports (NODX) fell for the first time since March, dragged down by a decline in non-electronic shipments.
Exports fell by 2.6 per cent compared to the previous year, following an 8.2 per cent rise in October, data from trade agency Enterprise Singapore showed on Monday (Dec 17).
On a seasonally adjusted month-on-month basis, exports decreased 4.2 per cent in November, falling from a 4.2 per cent expansion seen in the previous month.
Shipments of non-electronic products fell 5.2 per cent year-on-year, with the biggest contributors to the decline being non-monetary gold (-77.9 per cent), specialized machinery (-12.8 per cent) and petrochemicals (-7.8 per cent).
Electronic exports rose 4.5 per cent in November after a 3.6 per cent decline the previous month.
ICs, consumer electronics and telecommunications equipment grew by 27.9 per cent, 11.5 per cent and 3.4 per cent, respectively.
Exports to the majority of the 10 markets declined in November, except the US, Thailand, Japan and Taiwan.
The largest contributors to the NODX decrease were China (-16 per cent), South Korea (-25.7 per cent) and Indonesia (-20.3 per cent).
Total trade rose by 7.7 per cent in November, following the 20.1 per cent growth in the previous month.
