Non-electronic NODX fell by 18.5% y-o-y as non-monetary gold (-80.3%), specialised machinery (-17.2%) and petrochemicals (-22.8%) contributed the most to the decline.
Singapore’s non-oil domestic exports (NODX) for the month of July contracted by 20.2% y-o-y, making this the 10th consecutive month of y-o-y declines. The contraction was also deeper than the Bloomberg median estimate of -14.3%.
In July, electronics and non-electronics exports declined. Electronic NODX fell by 26.1% y-o-y as integrated circuits (ICs), personal computers (PCs) and disk media products contributed the most to the decline at with contractions of 35.7%, 46.1% and 40.8% respectively.
