Singapore's non-oil domestic exports see record growth in four years
Singapore's non-oil domestic exports (Nodx) expanded 17.9 percent in October 2021, hitting a record high after a growth of 20.5 percent four years ago.
Singapore's non-oil domestic exports (Nodx) expanded 17.9 percent in October 2021, hitting a record high after a growth of 20.5 percent four years ago (Source: The Straits Times File Photo)Enterprise Singapore (ESG) said the rise was driven by growth in both electronic and non-electronic shipments, despite restrictions triggered by COVID-19 and other challenges.
It continued that Nodx growth over the year was led by non-electronic goods such as non-monetary gold, specialised machinery and petrochemicals.
Non-electronic shipments grew by 18.9 percent in October, following the 11.4 percent rise in September.
Non-monetary gold shipments surged 223.2 percent, specialised machinery 49.3 percent and petrochemicals 39.1 percent.
Exports of the linchpin electronics sector saw an year-on-year rise of 14.9 percent, extending the 14.1 percent gain in September.
Shipments of integrated circuits (ICs) rose 22.6 percent and those of PCs were up 18.1 percent, while exports of diodes and transistors surged by 19.8 percent.
Singapore’s Nodx to the top markets as a whole increased last month, though exports to Thailand, the US and Hong Kong (China) declined./.
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