MEDIA RELEASE
SINGAPORE'S EXTERNAL TRADE – November
20151,2
IMPORTANT: Unless otherwise stated, use of any information in this news
release must be attributed to International Enterprise (IE) Singapore.
To be embargoed till 08:30 am on Thursday, 17 December 2015
MR No.: 043/15
Singapore, Thursday, 17 December 2015
Highlights
•
On a year-on-year (y-o-y) basis, NODX declined by 3.3 per cent in November 2015,
compared to the flat growth in the previous month, due to a contraction in non-electronic
NODX which outweighed the increase in electronic NODX.
•
On a y-o-y basis, NODX to all of the top 10 NODX markets, except the US, Japan,
Thailand and South Korea, contracted in November 2015. The top contributors to the
NODX decline in November 2015 were China, Malaysia and the EU 28.
•
On a y-o-y basis, NORX increased by 5.1 per cent in November 2015, following the 6.1
per cent growth in the previous month, due to the expansion in both electronic and
non-electronic NORX.
1
2
Effective February 2014, data regarding the European Union (EU) shall be reported as EU 28 instead of EU 27, to
accommodate the recent accession of Croatia to the EU. All top products/countries which are stated to have contributed
towards the changes in trade figures are ranked by absolute change in level and not change in percentage.
Trade data has been revised arising from periodic reviews based on international standard.
International Enterprise Singapore is the government agency driving Singapore’s external economy.
The data in the media release is provided on an “as is” basis and is subject to updates. While every effort is
made to ensure that the data is accurate, it is provided by IE Singapore without any representation or warranty.
IE Singapore shall not be held responsible for any consequence arising from your reliance on any information
provided by us.
IE Media Release 17 December ‘15
Unless otherwise stated, use of any information in this news release must be attributed to IE Singapore
(I)
Overall Trend
1.
On a y-o-y basis, NODX declined by 3.3 per cent in November 2015, compared to the flat
growth in the previous month. On a 3-month moving average (3MMA) y-o-y basis, NODX
decreased by 0.3 per cent in November 2015, following a 2.6 per cent decline in the previous
month.
On a y-o-y basis, NODX declined by 3.3 per cent in November 2015
Per cent
NODX, y-o-y growth
20
15
3-month moving average
10
5
0
-5
-10
-15
Nov 13
2.
Feb
May
Aug
Nov 14
Feb
May
Aug
Nov 15
On a month-on-month seasonally adjusted (m-o-m SA) basis, NODX declined by 3.8
per cent in November 2015, following the previous month’s 0.3 per cent decrease, due to the
contraction in non-electronic NODX which outweighed the growth in electronic NODX. On a SA
basis, the level of NODX reached S$12.9 billion in November 2015, lower than the S$13.4 billion
registered in the previous month.
On a m-o-m SA basis, NODX declined by 3.8 per cent to reach S$12.9 billion in November 2015
S$ billion
16
NODX, seasonally adj. level
15
14
13
12
11
10
Nov 13
3.
Feb
May
Aug
Nov 14
Feb
May
Aug
Nov 15
On a SA basis, non-oil retained imports of intermediate goods (NORI) decreased by S$0.6
billion from S$3.8 billion in the previous month to reach S$3.1 billion in November 2015.
Page 2 of 10
IE Media Release 17 December ‘15
Unless otherwise stated, use of any information in this news release must be attributed to IE Singapore
On a SA basis, NORI was at S$3.1 billion in November 2015
S$ billion
NORI, seasonally adj. level
6
5
4
3
2
1
Nov 13
(II)
Feb
May
Aug
Nov 14
Feb
May
Aug
Nov 15
Commentaries
(a) Performance of Key Trade Components
Total Trade
4.
On a y-o-y basis, total trade contracted by 5.7 per cent in November 2015, following the
7.7 per cent decline in the previous month. Total exports decreased by 5.9 per cent in November
2015, following the 3.2 per cent contraction in the previous month. Total imports declined by 5.5
per cent in November 2015, following the 12.7 per cent decrease in the preceding month.
5.
On a m-o-m SA basis, total trade decreased by 2.9 per cent in November 2015, in contrast
to the 3.5 per cent growth in the previous month. On a SA basis, the level of total trade reached
S$72.3 billion in November 2015, lower than the previous month’s achievement of S$74.4 billion.
Total exports declined by 3.5 per cent in November 2015, compared to the 6.5 per cent growth in
the previous month. Total imports decreased by 2.1 per cent in November 2015, compared to the
0.1 per cent rise in the previous month.
Page 3 of 10
IE Media Release 17 December ‘15
Unless otherwise stated, use of any information in this news release must be attributed to IE Singapore
Total trade (y-o-y) contracted by 5.7 per cent
Total Trade, year-on-year growth
(Total Exports + Total Imports)
Per Cent
20
15
Total Exports
10
5
0
-5
-10
Total Trade
-15
-20
Total Imports
-25
Nov 13
Feb
May
Aug
Nov 14
Feb
Total trade (m-o-m SA) decreased by 2.9 per cent...
Total Trade, m-o-m SA growth
(Total Exports + Total Imports)
Per Cent
20
May
Aug
Nov 15
…to reach S$72.3 billion in November 2015
Total Trade, seasonally adj. level
(Total Exports + Total Imports)
S$ billion
100
15
90
Total Exports
Total Imports
10
Total Trade
80
70
5
60
0
50
-5
Total Exports
40
Total Imports
30
Total Trade
-10
20
-15
Nov 13
Feb
May
Aug
Nov 14
Feb
May
Aug
Nov 15
10
Nov 13
Feb
May
Aug
Nov 14
Feb
May
Non-oil Domestic Exports (NODX)
6.
On a y-o-y basis, NODX declined by 3.3 per cent in November 2015, compared to the flat
growth in the previous month, due to a contraction in non-electronic NODX which outweighed the
increase in electronic NODX.
7.
Electronic products. On a y-o-y basis, electronic NODX grew by 0.7 per cent in
November 2015, in contrast to the 3.2 per cent decrease in the previous month. The growth in
electronic domestic exports was largely due to telecommunications equipment (+41.4 per cent),
other computer peripherals (+80.0 per cent) and diodes & transistors (+6.5 per cent).
Page 4 of 10
Aug
Nov 15
IE Media Release 17 December ‘15
Unless otherwise stated, use of any information in this news release must be attributed to IE Singapore
8.
Non-electronic products. On a y-o-y basis, non-electronic NODX contracted by 5.1
per cent in November 2015, compared to the 1.4 per cent rise in the previous month. The decline
in non-electronic NODX was led by pharmaceuticals (-12.5 per cent), structural parts (-91.3 per
cent) and food preparations (-24.6 per cent).
Electronic NODX grew by 0.7 per cent in
…while non-electronic NODX contracted by
November 2015 …
5.1 per cent
SA level NODX by Products: Electronics Per Cent
(S$billion)
(Y-o-Y)
6
30
4
20
2
10
0
0
SA level NODX by Products: Non-Electronics Per Cent
(S$billion)
(Y-o-Y)
12
40
9
30
6
20
3
10
0
0
-3
-2
-10
-4
-20
-9
-30
-12
-10
-6
% Growth (RHS)
-6
Nov
13
Feb May Aug Nov
14
Feb May Aug
Nov
15
-20
% Growth (RHS)
-30
-40
Nov
13
Feb
May Aug
Nov
14
Feb
May Aug
Nov
15
Oil Domestic Exports
9.
On a y-o-y basis, oil domestic exports decreased by 32.4 per cent in November 2015,
after the preceding month’s 31.8 per cent contraction. The y-o-y decline of oil domestic exports
was mainly due to lower sales to Hong Kong (-53.5 per cent), Indonesia (-35.6 per cent) and
Panama (-45.1 per cent). In volume terms, oil domestic exports increased by 5.2 per cent in
November 2015, following the 7.5 per cent expansion in the previous month. On a m-o-m SA
basis, oil domestic exports contracted by 11.1 per cent in November 2015, in contrast to the 6.7
per cent rise in the previous month.
Non-oil Re-exports (NORX)
10.
On a y-o-y basis, NORX expanded by 5.1 per cent in November 2015, following the 6.1
per cent growth in the previous month, due to an increase in both electronic and non-electronic
NORX. On a 3MMA y-o-y basis, NORX rose by 3.5 per cent in November 2015, following a 2.6
per cent expansion in the preceding month.
Page 5 of 10
IE Media Release 17 December ‘15
Unless otherwise stated, use of any information in this news release must be attributed to IE Singapore
On a y-o-y basis, NORX expanded by 5.1 per cent in November 2015
NORX, y-o-y growth
Per cent
28
23
3-month moving average
18
13
8
3
-2
-7
-12
Nov 13
11.
Feb
May
Aug
Nov 14
Feb
May
Aug
Nov 15
On a y-o-y basis, electronic NORX increased by 7.7 per cent in November 2015, after the
13.1 per cent growth in the previous month. The expansion in electronic NORX was due to
ICs (+6.9 per cent), diodes & transistors (+23.1 per cent) and telecommunications equipment
(+13.1 per cent).
12.
On a y-o-y basis, non-electronic NORX grew by 2.3 per cent in November 2015, compared
to the 1.4 per cent decrease in the previous month. The rise in non-electronic NORX was due to
pharmaceuticals (+100.3 per cent), aircraft parts (+35.8 per cent) and alcoholic beverages
(+53.8 per cent).
13.
On a m-o-m SA basis, NORX rose by 0.1 per cent in November 2015, after the 10.7
per cent expansion in the previous month, due to an increase in non-electronic NORX which
outweighed the decline in electronic NORX. On a SA basis, the level of NORX reached S$20.7
billion in November 2015, similar to the level registered in the preceding month.
On a m-o-m SA basis, NORX rose by 0.1 per cent to reach S$20.7 billion in November 2015
NORX, seasonally adj. level
S$ billion
21
20
19
18
17
16
15
14
13
12
Nov 13
Feb
May
Aug
Nov 14
Feb
May
Aug
Nov 15
Page 6 of 10
IE Media Release 17 December ‘15
Unless otherwise stated, use of any information in this news release must be attributed to IE Singapore
14.
NORX to all of the top 10 NORX markets, except Thailand, South Korea, Indonesia and
Hong Kong, increased in November 2015. The top three contributors to the NORX expansion in
November 2015 were China (+31.9 per cent), the EU 28 (+30.9 per cent) and Taiwan (+14.0 per
cent).
(b) Non-Oil Domestic Export Markets
Overview3
15.
NODX to all of the top 10 NODX markets, except the US, Japan, Thailand and South
Korea, contracted in November 2015. The top contributors to the NODX decline in November
2015 were China, Malaysia and the EU 28.
China was the top contributor to the NODX
contraction in November 2015 …
SA level
(S$billion)
NODX by Market: China
… followed by Malaysia and the EU 28
Per Cent
(Y-o-Y)
3.0
60
60
2.5
50
50
2.0
40
40
1.5
30
0.5
10
0.0
0
-10
-10
-20
-20
-30
-1.5
Nov
13
16.
% Growth (RHS)
-30
Feb
May Aug
Nov
14
Feb
May Aug
Nov
15
Malaysia
20
20
-1.0
EU 28
30
1.0
-0.5
NODX by Markets: Malaysia and EU 28
Per Cent
10
0
-40
Nov
13
Feb
May
Aug
Nov
14
Feb
May
Aug
NODX to China declined by 9.1 per cent in November 2015, following the previous month’s
decrease of 8.7 per cent, led by food preparations (-86.4 per cent), primary chemicals
(-52.1 per cent) and structural parts (-99.8 per cent). NODX to Malaysia contracted by 8.9 per cent
in November 2015, following the 5.7 per cent decline in the preceding month, due to
petrochemicals (-28.9 per cent), parts of PCs (-36.4 per cent) and civil engineering equipment
parts (-64.4 per cent). NODX to the EU 28 decreased by 6.2 per cent in November 2015, in
contrast to the 1.0 per cent increase in the preceding month, due to pharmaceuticals
(-13.9 per cent), ICs (-35.9 per cent) and diodes & transistors (-42.3 per cent).
3
All growth rates quoted in the following analysis refer to year-on-year growth rates unless otherwise stated.
Page 7 of 10
Nov
15
IE Media Release 17 December ‘15
Unless otherwise stated, use of any information in this news release must be attributed to IE Singapore
Non-oil Domestic Exports to Top Markets (% Growth)
NODX
Electronic NODX
Non-Electronic NODX
Top Market
17.
Oct 2015
Nov 2015
Oct 2015
Nov 2015
Oct 2015
Nov 2015
China
-8.7
-9.1
2.5
2.3
-13.5
-13.9
Malaysia
-5.7
-8.9
-2.9
3.0
-7.1
-14.7
EU 28
1.0
-6.2
-7.9
-24.0
2.8
-1.3
Hong Kong
-0.5
-4.2
-0.9
-0.3
0.6
-12.2
Taiwan
-16.2
-3.7
-35.1
-23.0
18.8
40.4
Indonesia
-5.3
-1.0
-1.4
9.4
-5.9
-2.4
South Korea
-18.6
0.5
-1.8
-3.0
-25.8
2.4
Thailand
-6.9
6.9
7.4
23.0
-15.4
-3.2
Japan
5.4
6.3
-1.9
13.8
8.8
2.9
US
2.9
10.8
-4.4
6.5
5.9
12.6
Emerging markets 4 – NODX to emerging markets decreased by 2.4 per cent in
November 2015, in contrast to the 31.8 per cent expansion in the previous month. The decline in
NODX to the emerging markets was due mainly to Latin America (-59.7 per cent), the Middle East
(-14.8 per cent) and South Africa (-46.4 per cent).
_____________________________________
For media enquiries, please contact:
Ms Foo Xiao Xuan, Manager, Corporate Communications Group, IE Singapore
Tel: +65 6433 4400
Fax: +65 6337 6898
Email: foo_xiao_xuan@iesingapore.gov.sg
Editors kindly note:
Trade statistics released by IE Singapore are proprietary data and therefore copyright belongs
to IE Singapore. Any use of the information provided herein must therefore be attributed to IE
Singapore.
StatLink
Online reports listing 5-year data (values & volumes) on Singapore's trade in terms of countries
and commodities
4
Consisting of the Caribbean, Central Asia, CLMV (Cambodia, Laos, Myanmar and Viet Nam), Eastern &
Southern Europe (non-EU), Latin America, the Middle East, South Asia and South Africa; the list of emerging
markets has been updated.
Page 8 of 10
IE Media Release 17 December ‘15
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https://statlink.iesingapore.gov.sg
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economy. We spearhead the overseas growth of Singapore-based companies and promote
international trade. Our vision is a thriving business hub in Singapore with Globally Competitive
Companies and leading international traders.
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Page 10 of 10