Singapore's non-oil domestic exports (NODX) plunged by 20.6% yoy in December 2022, worse than market forecasts of a 16.8% drop, after an upwardly revised 14.7% fall in the prior month. This was the third straight month of decline in non-oil domestic exports, and the steepest pace since February 2009, due to faster falls in sales of non-electronics. Shipments of non-electronic products slumped 21.3%, following a 12.8% fall previously, due to non-monetary gold (-63.3%), specialised machinery (-16.6%), and primary chemicals (-55.6%). Meanwhile, exports of electronic products shrank 17.9% yoy, after a 20.2% slump in November, dragged down by ICs (-26.0%), disk media products(-36.5%), and parts of PCs (-41.7%). Sales were down to China (-31.8%), Malaysia (-15.7%), Taiwan (-17.0%), US (-1.9%), and the EU 27 (-3.7%) while increased to Japan (6.8%), South Korea (14.3%). On a seasonally adjusted basis, NODX unexpectedly dropped by 3.3% in December, missing market consensus of a 1% growth. source: Statistics Singapore
Domestic Exports of Non Oil (nodx) (%yoy) in Singapore averaged 9.65 percent from 1977 until 2022, reaching an all time high of 70.00 percent in February of 1980 and a record low of -34.90 percent in January of 2009. This page includes a chart with historical data for Singapore Domestic Exports of Non Oil (nodx) (%yoy). Singapore Non-oil Domestic Exports (NODX) YoY - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.
Domestic Exports of Non Oil (nodx) (%yoy) in Singapore is expected to be -5.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Non-oil Domestic Exports (NODX) YoY is projected to trend around 7.50 percent in 2024 and 4.90 percent in 2025, according to our econometric models.