Singapore Non-oil Domestic Export Data, -14.7% YoY in May
- vs -8.1% expected, previously -9.8% in April
- Decrease in both electronic and non-electronic products
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Singapore Non-oil Domestic Exports (NODX) measures the value of goods exported from Singapore excluding oil and petroleum products.
- An important measure of Singapore’s foreign trade performance, especially for the manufacturing and export sectors
- Covering a wide range of products, including electronics, chemicals, pharmaceuticals, machinery, precision engineering goods, and more
- Growth in NODX indicates an increase in exports, which can boost economic activity and contribute to gross domestic product
gross domestic product
Gross domestic product (GDP) is the monetary value of all goods and services produced within a country’s borders in a specified period of time, usually a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often offered as annuals or annuals. There are three ways to calculate GDP: Expenditure Approach: Gross Domestic Product is calculated by summing up all spending on goods and services within a country. This includes consumers
Gross domestic product (GDP) is the monetary value of all goods and services produced within a country’s borders in a specified period of time, usually a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often offered as annuals or annuals. There are three ways to calculate GDP: Expenditure Approach: Gross Domestic Product is calculated by summing up all spending on goods and services within a country. This includes consumers
Read this term growth
- A decline in NODX indicates a slowdown in export demand and may indicate weaker economic conditions
- Factors affecting NODX include global economic conditions, changes in international demand for Singaporean goods, fluctuations in exchange rates, shifts in global supply chains, and changes in government policies related to trade.
Singapore relies heavily on international trade. It is a small and open economy in which exports play an important role in driving economic growth and employment.