SEE: Growth in Singapore's non-oil domestic exports slows to 6% in July
On a m-o-m seasonally adjusted basis, NODX rose by 6.6% in December, extending the previous month’s 3.7% increase. This comes from growth in both electronic and non-electronic exports, ESG explains. These developments translated to $14.5 billion in December down from $13.6 billion in November. In this time, Singapore’s NODX to six of its top 10 markets grew in the last month of the year, with exports to the US (+52.5%), South Korea (+46.2%) and Taiwan (+14.8%) being the top performers. The surge in shipments to the US is an extension from the previous month’s 9.5% growth and was led by stronger exports of pharmaceuticals (+79.9%), measuring instruments (+27.5%) and non-monetary gold.