SINGAPORE - Singapore exporters ended 2014 on a slightly more upbeat note despite global economic uncertainties, as non-oil domestic export (Nodx) performance came in stronger than expected.
Singapore's Nodx grew 2.3 per cent in December over the same month in 2013, due to higher shipments of both electronics and non-electronics products.
This was stronger than economists' initial forecasts.
Shipments to Singapore's top 10 Nodx markets, including South Korea, Malaysia and the European Union, expanded compared with December 2013.
However, shipments to China, the United States, Indonesia and Japan shrank year-on-year.
The value of oil domestic exports plunged 22 per cent in December on the back of plummeting global crude prices.
Data released by IE Singapore on Friday attributed this to lower sales to Malaysia, Hong Kong and China.
In volume terms, however, oil domestic exports expanded 5.9 per cent over the previous year.