Singapore’s NODX grows by 9.5 pct on year in February

SINGAPORE, March 17 (Xinhua/APP): Singapore’s non-oil domestic exports (NODX) grew by 9.5 percent year on year in February following the 17.6 percent growth in January, Enterprise Singapore, a government agency, announced on Thursday.

It is the 15th consecutive month for Singapore’s NODX to see year-on-year growth.

In a breakdown, the electronic NODX increased by 11.6 percent year on year in February, following the 14 percent increase in January. The non-electronic NODX grew by 8.8 percent year on year in February, compared to the 18.6 percent increase in the previous month.

On a month-on-month seasonally adjusted basis, Singapore’s NODX decreased by 2.8 percent in February to 17.6 billion Singapore dollars (about 12.96 billion US dollars), after the previous month’s 5 percent growth.

Singapore’s non-oil re-exports (NORX) grew by 19.8 percent year on year this February, following the 21.8 percent rise in the previous month. Both electronic and non-electronic NORX grew.

Enterprise Singapore said that Singapore’s total trade rose by 21 percent in February, following the 24.9 percent expansion in the preceding month. In a breakdown, the total exports increased by 22.3 percent, and the total imports grew by 19.6 percent.