Singapore non-oil exports jump 8.3% in October

SINGAPORE’S non-oil domestic exports (NODX) jumped 8.3 per cent in October over a year ago, extending September’s 8.1 per cent rise – thanks to an increase in non-electronic NODX which overweighed a continued dip in electronic domestic exports.

Non-electronic NODX grew 12.8 per cent after rising 11.8 per cent in the previous month, while electronic NODX fell 3.5 per cent following a 1.3 per cent decline in September, according to the latest trade figures released by trade promotion agency Enterprise Singapore.

Seasonally adjusted, the NODX was up 4.2 per cent last month to hit S$15.6 billion compared to September when it dropped 4.4 per cent to S$14.9 billion month on month. Both electronic and non-electronic NODX rose month on month in October, according to Enterprise Singapore.

Except for China, Taiwan and Malaysia, shipments to all top 10 markets increased last month, driven largely by exports to the European Union (+37.0 per cent), the US (+32.8 per cent) and Japan (+20.7 per cent).

Non-oil re-exports jumped 26.4 per cent in October, against a 13.3 per cent rise in September.

Total trade rose 20.1 per cent after a 13.5 per cent gain in the previous month, with total exports up 20.4 per cent and total imports increasing 19.8 per cent.