Singapore's domestic exports grow 17.6 pct in January

Singapore's non-oil domestic exports (NODX) grew by 17.6 percent year-on-year in January, following an 18.4-percent growth in December last year, Enterprise Singapore, a government agency, said on Thursday.

This is the 14th consecutive month for Singapore's NODX to see year-on-year growth.

In a breakdown, the electronic NODX increased by 14 percent year-on-year in January, following a 13.6-percent increase last December. The non-electronic NODX grew by 18.6 percent year-on-year in January, compared to 19.9 percent in the previous month.

On a month-on-month seasonally adjusted basis, Singapore's NODX increased by 5 percent in January 2022 to 18.1 billion Singapore dollars (about 13.46 billion U.S. dollars), following the previous month's 2.6 percent growth.

Singapore's non-oil re-exports (NORX) grew by 21.8 percent year-on-year in January, following the 26 percent rise in the previous month. Both electronic and non-electronic NORX grew.

Enterprise Singapore also said on Thursday that Singapore's NODX grew by 12.1 percent in the whole of 2021, after a 4.3-percent rise in 2020, due to higher shipments of both electronic and non-electronic products. The NODX to the Chinese mainland grew 29.1 percent in 2021, compared to an 8-percent decline in 2020.

It said the 2022 growth projection for Singapore's NODX is maintained at 0-2 percent.