Monday, June 11, 2012

S'pore NODX up 3.2% on-year in May

SINGAPORE: Singapore's NODX expanded by 3.2 per cent on-year in May, following the 1.7 per cent increase in the previous month due to both electronic and non-electronic NODX.

Releasing the data on Monday, International Enterprise Singapore (IE Singapore) said the year-on-year increase for April was revised from 8.3 per cent to 1.7 per cent as a result of "amendments made by traders on their import/export declarations submitted earlier."

It added that the increase in May was driven by more shipments for electronics and pharmaceutical products.

IE Singapore said electronic NODX grew by 3.9 per cent on-year in May, after the 1.0 per cent expansion in the previous month.

It attributes the better performance to higher exports of ICs, telecommunications equipment and capacitors.

Meanwhile, shipments of non-electronic products expanded by 2.8 per cent year-on-year in May, following the 2.7 per cent increase in April.

IE Singapore said that is due to higher exports of petrochemicals, civil engineering equipment parts and aromatic chemicals.

On a month-on-month seasonally adjusted basis, NODX fell 2.1 per cent last month, compared to a 6.4 per cent expansion in April.

On a year-on-year basis, NODX to all of the top 10 NODX markets - except to the US, Japan and China - rose in May 2012.

Total trade also expanded by 4.6 per cent on-year in May, following the 1.5 per cent increase in the previous month. Total exports grew by 3.3 per cent while total imports increased by 6.0 per cent.

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