Electronic NODX expanded by 21.9% y-o-y in May, extending the 3.3% increase in April. During the month, integrated circuits (ICs), disk media products and personal computers (PCs), which expanded by 35.8%, 92.0% and 27.2% respectively, contributing the most to the growth. This is also the first double-digit growth in 22 months, notes Enterprise Singapore.
Singapore’s non-oil domestic exports (NODX) dipped by 0.1% in May, moderating from the 9.6% contraction in April.
According to Enterprise Singapore, the decline marked the mildest in 20 months. May’s NODX was due to the easing pace of decline in non-electronics exports and double-digit growth in electronics exports.
