Year-on-year, total exports in September of 2014 declined 1.6 percent to SGD 44.32 billion, following a 1.2 percent contraction in the previous month.
Non-oil domestic exports (NODX) rose 0.9 percent, following a 6.0 percent increase in August, due to a rise in non-electronic NODX which outweighed the decline in electronic NODX. Electronic sales fell 4.0 percent, after a 6.9 percent drop in the preceding month, largely due to lower exports of PCs (-25.1 percent), ICs (-5.5 percent) and disc drives (-11.7 percent). Non-electronic sales expanded by 3.0 percent in September, following a 12.1 percent increase in August, led by petrochemicals (+16.5 percent), specialised machinery (+32.9 percent) and primary chemicals (+24.1 percent). Oil exports fell 12.0 percent in September, after a 2.7 percent increase in the preceding month. Non-oil re-exports (NORX) increased 4.2 percent in September after a 5.6 percent contraction in the previous month, due to a rise in non-electronic NORX which outweighed the decline in electronic NORX.
NODX to top ten markets in September of 2014 rose on an annual basis except for Hong Kong, Japan and the EU countries. The top three contributors in the month were China (+14.7 percent from a 5.8 percent increase in August), led by specialised machinery (+142.7 percent), heating & cooling equipment (+998.7 percent) and petrochemicals (+11.0 percent). NODX to Taiwan increased by 25.6 percent after a 21.2 percent expansion in August, largely due to ICs (+28.8 percent), parts of ICs (+119.8 percent) and specialised machinery (+57.3 percent). NODX to Malaysia grew by 11.6 percent following a 7.0 percent rise a month ago, due to diodes & transistors (+267.7 percent), electrical machinery (+100.7 percent) and parts of ICs (+80.2 percent). Deliveries to the European Union countries declined 3.6 percent, following a 7.0 percent rise in August and those to the U.S. slowed to 1.1 percent from a 5.1 percent growth in the previous month.
Imports decreased 5.1 percent year-on-year to SGD 38.74 billion, following a 8.7 percent decline in August of 2014.