Non-electronic exports rose 9.2% and contributed to growth.
Non-oil domestic exports (NODX) were on a roll in 2017 as they climbed from a 4% decline to 8.8% growth. They were driven by higher exports of electronic and non-electronic NODX.
According to International Enterprise (IE) Singapore, electronic NODX grew 8%, an improvement from the 4% decline in 2016. Non-electronic NODX rose 9.2%, compared to the 2.3% decrease in 2016.
Domestic exports of electronic products, comprising 29% of NODX, also grew 8% in 2017, in contrast to the previous year’s decline of 4.0%.
Exports of integrated circuits (IC), disk media products, and parts of PCs grew by 18.2%, 9.4%, and 3.5% respectively, and they contributed the most to the growth in electronic NODX.
Meanwhile, domestic exports of non-electronic products, which are 71% of the NODX, rose 9.2%.
The largest contributors to the growth in non-electronic NODX were specialised machinery, which grew 54.6%, petrochemicals, which grew 21.9%, and non-monetary gold, which grew 35.4%.
NODX to all top markets, except Hong Kong, grew in 2017. The biggest contributors to the growth in 2017 were China (+31.1%), South Korea (+43.5%) and Malaysia (+12.9%).
Non-oil re-exports (NORX) climbed 5.5%, oil domestic exports surged 33.4%, whilst oil re-exports dipped by 4.2% due to dramatic drops in Indonesia, Australia, and Myanmar.
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