SINGAPORE has announced that year on year non-oil domestic exports (NODX) rose by 7.8 per cent in May, compared to a two per cent decrease the previous month.

    On a year on year basis, NODX to all of the top 10 NODX markets, except Hong Kong and Japan, rose in May. The top three contributors to the NODX rise were the European Union, Taiwan and China.

    Year on year, NORX (re-exports) expanded by 0.4 per cent in May, in contrast to the 2.1 per cent decline the previous month, due to an increase in non-electronic NORX which outweighed the drop in electronic NORX.

    NODX increased by 7.5 per cent in May compared to the previous month's 3.7 per cent decline, due to both electronic and non-electronic NODX. NODX reached S$15.5 billion (US$12.5 billion) in May, higher than the S$14,454 million registered in April.

    Non-oil retained imports of intermediate goods (NORI) decreased by S$573 million from S$6.09 billion the previous month to reach S$5.5 billion.

    Total trade grew by 14 per cent in May, following the 4.7 per cent increase the previous month. Total exports grew by 9.6 per cent in May, after the 4.9 per cent expansion the previous month. Total imports were up by 18 per cent in May, following the 4.5 per cent rise the preceding month.

     Month to month, total trade expanded by 3.6 per cent in May compared to a decline of 4.3 per cent the month before.

(Resource:http://www.shippingonline.cn)