Year-on-year, total exports in November declined 2.8 percent to SGD 40.96 billion, following a 7.0 percent contraction in the previous month.
Non-oil domestic exports (NODX) rose 1.6 percent, reversing from a 1.5 percent fall in October, due to an expansion in non- electronic NODX which outweighed the decline in electronic NODX. Electronic sales fell 10.2 percent, following a 3.6 percent decline in the preceding month, largely due to lower exports of ICs (-72.6 percent), parts of PCs (-39.1 percent) and ICs (-4.5 percent). Oil exports decreased by 16.6 percent in November, after a 14.9 percent decline in the preceding month.
Non-oil re-exports (NORX) increased by 3.6 percent in November, in contrast to a 5.4 percent fall in October, due to a rise in both electronic and non-electronic NORX. Electronic NORX increased by 5.7 percent in November, following a 7.2 percent decline in the previous month, due to ICs (+8.4 percent), telecommunication equipment (+27.5 percent) and diodes & transistors (+19.3 percent). Non-electronic NORX expanded by 1.4 percent in November, in contrast to a 3.3 percent decline in October, due to structures of ships & boats (+3,846.9 percent), precious stones & pearls (+120.9 percent) and jewelry (+33.8 percent).
NODX to top ten markets in November rose on an annual basis except for the EU countries, the US, China, Japan, Hong Kong, Taiwan and South Korea. The top three contributors in the month were Malaysia, Indonesia and Thailand. NODX to Malaysia increased by 15.1 percent, following a 0.4 percent decrease in October, led by petrochemicals (+62.1 percent), diodes & transistors (+137.4 percent) and civil engineering equipment parts (+63.6 percent). NODX to Indonesia expanded by 15.3 percent, in contrast with a 8.8 percent decline in the preceding month, due to medical apparatus (+2,465.1 percent), printed matter (+3,294.9 percent) and other specialty chemicals (+31.0 percent). NODX to Thailand grew by 4.3 percent, following a 13.5 percent rise in the preceding month, due to disk media products (+386.2 percent), ICs (+45.2 percent) and civil engineering equipment parts (+49.5 percent).
Imports decreased 11.1 percent year-on-year to SGD 34.27 billion, following a 5.3 percent decline in October 2014.