MOSCOW (MRC) -- Singapore’s non-oil domestic exports (NODX) surged 24.2% year-on-year in November, marking the biggest jump in nearly a decade and 12th straight month of growth, said Channelnewsasia.
The rise extended the 17.8% increase in the previous month, and is the highest since February 2012. Both electronics and non-electronics exports grew, according to data released by Enterprise Singapore (ESG) on Friday (Dec 17).
On a month-on-month seasonally adjusted basis, NODX increase by 1.1% in November, following the previous month’s increase of 4.1%. Electronic exports continued to grow, recording a 29.2% increase on a year-on-year basis, driven primarily by integrated circuits, personal computers and disk media products, said ESG.
Shipments of non-electronic products grew by 22.7%, led by specialised machinery, petrochemicals and primary chemicals. "NODX to the top markets as a whole rose in November 2021," said ESG, although exports to Thailand declined.
The largest contributors to this increase were China, Taiwan and South Korea. Exports to China grew by 45.3 per cent due to specialised machinery, petrochemicals and pharmaceuticals. Shipments to Taiwan expanded by 36.5% due to integrated circuits, measuring instruments and petrochemicals.
Exports to South Korea rose by 57.9% due to specialised machinery, integrated circuits and personal computers. Shipments to emerging markets grew by 54.2%. This growth was mainly due to South Asia, Cambodia, Laos, Myanmar and Vietnam, as well as Latin America.
As it was written before, Japan's chemical exports in November rose by 20.2% year on year to yen (Y) 907.1bn ($7.95bn), supporting the overall growth in shipments abroad. Exports of organic chemicals rose by 39.5% year on year to Y191bn in November, while shipments of plastic products were up by 14.4% at Y250.6bn, according to data from the Ministry of Finance (MOF).
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