For the second straight month, shipments of locally-produced goods registered a year-on-year increase in December as both electronic and non-electronic sectors delivered another solid performance. 

Latest data released on Tuesday (Jan 17) by trade agency International Enterprise (IE) Singapore showed non-oil domestic exports (NODX) grew 9.4 per cent year-on-year in the final month of 2016, following the 11.5 per cent growth in the preceding month.

On a month-on month seasonally adjusted basis, exports increased by 1 per cent last month, slower than the previous month’s 13 per cent growth.

Electronic NODX rose 5.7 per cent year-on-year in December 2016, beating the 3.5 per cent increase in the previous month. Integrated circuits, personal computer parts and consumer electronics contributed the most to the growth in electronic domestic exports with a 29.9 per cent, 4.9 per cent and 8.8 per cent expansion, respectively.

The non-electronics segment grew by 11.3 per cent during the same period, slowing from the 15.3 per cent expansion in the previous month. Specialised machinery, petrochemicals and primary chemicals grew by 63.6 per cent, 28.5 per cent and 58.2 per cent respectively, contributing the most to the rise in non-electronic NODX.

Singapore's exports to the majority of the top 10 markets rose in December, with the largest contributors being China, Taiwan and Hong Kong.

Source:
courtesy of TODAY

by Lee Yen Nee

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