Singapore: Non-oil domestic exports drop at a slower pace in October
Non-oil domestic exports (NODX) decreased 3.4% annually in October (September: -13.2% year-on-year). October’s figure marked the softest decline since September 2022 and it was due to smaller drops in both electronics and non-electronics exports on a low base of comparison. In addition, falling NODX to Taiwan, the U.S. and South Korea outweighed stronger NODX to China, the E.U., Hong Kong and Thailand.
In seasonally adjusted month-on-month terms, NODX exports rose 3.4% in October, compared to September’s 11.1% increase.