NODXNon-Oil Domestic Exports (Singapore)
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The government data showed that overall NODX jumped 16.8% in July.
''The NODX performance (in July) was contributed largely by the increase in domestic export of non-electronics as well as the less severe decline in that of electronics,'' the report said.
NODX refers to Singapore-made goods and is a key indicator of the health of Singapore's export-driven economy.
On a seasonally adjusted month-on-month basis, NODX shrank 9.1 per cent after contracting 3.6 per cent in July.
''Apart from weaker performance in NODX of both electronics and non-electronics, this poorer showing...was also caused in part by the high base in the same period last year,'' said International Enterprise Singapore, the national trade promotion agency.
Exports to Singapore's biggest market for NODX, the United States, fell 3.8% to S$1.8 billion (about US$1.01 billion) with domestic exports of both electronics and non-electronics products remaining lackluster.
The slide in NODX began in March this year, with a fall of 2.2%, followed by 1.4% in April, 9% in May, and 17% in June.
The precipitous drop in NODX in July was mainly due to the slump in demand for electronic products such as integrated circuits, disk drives, personal computers and telecommunications equipment.
Analysts had been expecting drop of about 10% in the NODX, which refers to exports of goods manufactured in Singapore.
NODX is key trade data widely watched by analysts monitoring the Singapore economy as it shows exports of locally manufactured products -- about 60% of which are electronics.