Domestic exports of electronic products rose by 17% y-o-y in 3Q2024. Integrated circuits, disk media products and personal computers grew by 23.7%, 117.0% and 52.1% y-o-y respectively, contributing the most to the growth in electronic NODX.
Singapore’s FY2024 growth forecast for total merchandise trade and non-oil domestic exports (NODX) have narrowed to around 5% and 1% respectively, following weaker-than-expected 3Q2024 growth, due to volatile pharmaceuticals as well as ships and boats segments.
On a y-o-y basis, NODX grew by 9.2%, after the 6.5% decrease in the previous quarter. Electronics grew faster in 3Q2024, marking the second consecutive quarter of growth, while non-electronics rebounded after two quarters of declines.
