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Singapore’s non-oil domestic exports (Nodx) fell in November due to a high base a year ago and a decline in shipments of non-electronic goods.
Nodx fell by 2.6% from a year ago for last month, a reversal from the revised 8.2% increase in October, Enterprise Singapore said on Monday.
Shipments of non-electronic goods sank by 5.2% for last month, following the 12.7% increase in the previous month. The fall was led by declines in shipments of specialized machinery, non-monetary gold, and petrochemicals.
Electronic products meanwhile, saw a 4.5% increase in shipments, following the 3.6% decline in the previous month, with contributions coming from integrated circuits, consumer electronics, and telecommunications equipment.
On a seasonally adjusted month-on-month basis, Nodx fell by 4.2%, after the previous month’s 4.2% increase, due to a fall in non-electronic Nodx.
Six out of Singapore’s top 10 exporting partners decreased shipments last month, with the largest contributors to the Nodx decrease China, South Korea, and Indonesia, at declines of 16.0%, 25.7%, and 20.3%, respectively.
Shipments to the US, Thailand, Japan, and Taiwan rose by 33.1%, 6.5%, 1.6%, and 0.3%, respectively.
Total trade rose 7.7% for November compared to a year ago, following the 20.1% growth in October.