Singapore's NODX up 8 percent

Singapore's NODX up 8 percent

SINGAPORE: Key non-oil domestic exports (NODX) rose 8 percent in December to S$11.3 billion (US$6.8 billion), powered by electronics, the government said on Monday.

That followed a 16.5 percent gain in November.

Exports grew a seasonally adjusted 0.3 percent in December from the previous month, reversing November's 9.1 percent decline, said International Enterprise Singapore.

Total trade rose 14.4 percent on year in December, sustaining the double-digit growth trend that started in February last year, the agency said.

Electronics exports, which account for about 50 percent of non-oil exports, rose 8.3 percent in December while pharmaceuticals fell 25.9 percent.

NODX to all of Singapore's top 10 markets continued to grow in December except for Malaysia, which saw a 2 percent drop.

For 2004, NODX rose 17 percent to S$132.8 billion. Total trade grew 22.5 percent to S$580 billion. -- DPA