SINGAPORE: Singapore's non-oil domestic exports (NODX) fell for the third straight month in December due to weak global demand.
NODX fell by 20.6 per cent year in December from a high base a year ago, following the 14.7 per cent decrease in November.
According to data released by Enterprise Singapore (EnterpriseSG) on Tuesday (Jan 17), both electronics and non-electronics exports decreased in December.
On a year-on-year basis, electronics contracted by 17.9 per cent in December, following the 20.2 per cent decline in the previous month.
Integrated circuits, disk media products and personal computer parts decreased by 26.0 per cent, 36.5 per cent and 41.7 per cent respectively, contributing the most to the decline in electronics.
Non-electronics declined by 21.3 per cent in December from a year ago, following the 12.8 per cent decrease in the previous month.
Non-monetary gold, specialised machinery and primary chemicals contributed the most to the decline in non-electronics exports.
Overall, NODX grew by 3.0 per cent in 2022, said EnterpriseSG.
Exports to the top 10 markets as a whole declined in December, though exports to South Korea and Japan rose.
China, Indonesia and Hong Kong were the largest contributors to the drop.
Exports to Indonesia dropped by 35.4 per cent in December compared to 4.9 per cent in the previous month. This was due to non-monetary gold, petrochemicals and telecommunications equipment.
Hong Kong exports declined 34.6 per cent in December, after the 41.0 per cent decrease in the previous month due to integrated circuits, specialised machinery and electrical machinery.
Exports to China dipped 31.8 per cent in December, following the 31.2 per cent drop in the previous month. This was due to specialised machinery, pharmaceuticals and primary chemicals.
Exports to emerging markets also saw a contraction of 37.4 per cent in December, following a 30.3 per cent decrease in the previous month. This was mainly due to Cambodia, Laos, Myanmar, and Vietnam (CLMV), the Middle East and the Caribbean declining 70.1 per cent, 19.9 per cent, and 89.4 per cent respectively.
On a year-on-year basis, total trade decreased by 7.7 per cent in December, following the 2.4 per cent contraction in the previous month.
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NODX fell by 20.6 per cent year in December from a high base a year ago, following the 14.7 per cent decrease in November.
According to data released by Enterprise Singapore (EnterpriseSG) on Tuesday (Jan 17), both electronics and non-electronics exports decreased in December.
On a year-on-year basis, electronics contracted by 17.9 per cent in December, following the 20.2 per cent decline in the previous month.
Integrated circuits, disk media products and personal computer parts decreased by 26.0 per cent, 36.5 per cent and 41.7 per cent respectively, contributing the most to the decline in electronics.
Non-electronics declined by 21.3 per cent in December from a year ago, following the 12.8 per cent decrease in the previous month.
Non-monetary gold, specialised machinery and primary chemicals contributed the most to the decline in non-electronics exports.
Overall, NODX grew by 3.0 per cent in 2022, said EnterpriseSG.
NODX TO TOP 10 MARKETS DECLINE
Exports to the top 10 markets as a whole declined in December, though exports to South Korea and Japan rose.
China, Indonesia and Hong Kong were the largest contributors to the drop.
Exports to Indonesia dropped by 35.4 per cent in December compared to 4.9 per cent in the previous month. This was due to non-monetary gold, petrochemicals and telecommunications equipment.
Hong Kong exports declined 34.6 per cent in December, after the 41.0 per cent decrease in the previous month due to integrated circuits, specialised machinery and electrical machinery.
Exports to China dipped 31.8 per cent in December, following the 31.2 per cent drop in the previous month. This was due to specialised machinery, pharmaceuticals and primary chemicals.
Exports to emerging markets also saw a contraction of 37.4 per cent in December, following a 30.3 per cent decrease in the previous month. This was mainly due to Cambodia, Laos, Myanmar, and Vietnam (CLMV), the Middle East and the Caribbean declining 70.1 per cent, 19.9 per cent, and 89.4 per cent respectively.
On a year-on-year basis, total trade decreased by 7.7 per cent in December, following the 2.4 per cent contraction in the previous month.
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