December exports expanded beyond expectations at 2.3%

SINGAPORE — A rise in both electronics and non-electronic exports led December’s non-oil domestic exports (NODX) to expand 2.3 per cent from a year earlier, said International Enterprise (IE) Singapore today (Jan 16).

Exports for electronic products rose 0.4 per cent compared to a year ago, led by growth of integrated circuits, telecommunications equipment and personal computers. In November, the electronics segment fell for a 28th consecutive month, at a 10.2 per cent decline in shipments.

Non-electronic products expanded 3.2 per cent on-year, due to increased exports of specialised machinery, food preparations and non-electric engine and motors.

The expansion was better than economists’ initial forecasts.

Shipments to Singapore’s top 10 markets rose for all except Indonesia, Japan, the US and China, with top three contributors — South Korea, Malaysia and the Eurozone — adding to the growth.