Singapore: Growth in exports quickens in December
January 16, 2015
In December, non-oil domestic exports (NODX) rose 2.3% over the same month of the previous year. The print came in notably above the 0.8% increase tallied in November and marked a four-month high.
The result reflected an increase in both electronic and non-electronic exports. According to International Enterprise (IE) Singapore, non-electronic exports expanded 3.2% annually in December, which was below the 6.2% rise tallied in November. Meanwhile, exports of electronic products increased 0.4%, which contrasted the steep 10.2% drop tallied in November.
A month-on-month comparison does not corroborate the annual figures. Export growth decelerated to 0.1% in December, down from a 2.1% expansion tallied in November.
Author: Cecilia Simkievich, Economist