Electronic NODX in May rose 12.9% y-o-y, with integrated circuits (ICs), parts of ICs and disk media products contributing the most to the growth.
ICs, parts of ICs and disk media expanded by 26.6%, 116.3% and 10.3% y-o-y respectively.
Non-electronic NODX also increased by 12.2% y-o-y, driven by non-monetary gold, specialized machinery and measuring instruments that surged 344.4%, 26.4% and 38.0% y-o-y respectively.
The surge in non-monetary gold exports was due to a low base in May, which saw a contraction of 83% y-o-y.
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On a m-o-m seasonally adjusted basis, NODX increased by 3.2% to $17.1 billion in May, up from April’s $16.6 billion.
During the month, electronics and non-electronics exports grew, driven by the latter.
In May, NODX to the top 10 markets rose as a whole, with the largest contributors being Malaysia, Taiwan and Indonesia at 27.9%, 24.7% and 41.4% respectively.
NODX to Malaysia increased due to ICs (+98.3%), non-monetary gold (+134.9%) and measuring instruments (+64.3%), while NODX to Taiwan expanded due to growth in specialised machinery (+91.7%), parts of ICs (+240.6%) and measuring instruments (+56.2%). NODX to Indonesia grew due to plastic plates sheets, petrochemicals (+26.9%) and non-monetary gold (+391.1%).
During the month, NODX to the EU27, Hong Kong and South Korea declined.
NODX to emerging markets expanded by 61.9% mainly due to the 155.7% expansion in CLMV or Cambodia, Laos, Myanmar and Vietnam. Latin America and South Asia also contributed to the expansion with y-o-y growths of 88.3% and 34.6% respectively.
In May, non-oil re-exports (NORX) grew by 19.9% y-o-y, extending the 14.5% growth seen in April. This was thanks to expansions in both electronics and non-electronics.
Electronic NORX grew by 11.4% due to ICs, diodes & transistors and personal computers (PCs) with y-o-y growths of 16.6%, 31.2% and 22.5% respectively.
Non-electronic NORX grew by 30.8% y-o-y due to non-monetary gold, non-electric engines & motors and electrical machinery at 162.9%, 30.9% and 109.6% respectively.
NORX to the top 10 markets as a whole rose in May. The top three contributors during the month were Malaysia, Indonesia and the US with growths of 46.3%, 36.5% and 19.4% respectively.
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On a m-o-m seasonally adjusted basis, NORX grew by 2.2% in May to $32.9 billion.
In this time, non-electronic NORX grew while non-electronic NORX declined.
Oil domestic exports expanded by 86.4% in May, contributed by higher exports to Indonesia (+185.1%), Malaysia (+130.9%) and Australia (+79.8%).
In volume terms, oil domestic exports decreased by 0.7% in May, after the 11.4% decline in April.
On a m-o-m seasonally adjusted basis, oil domestic exports rose by 8.4% in May, following the 13.3% growth in April.
Total trade grew by 32.4% in May. During the month, total exports expanded by 26.9% and total imports grew by 38.7%.
On a m-o-m seasonally adjusted basis, total trade rose by 4.3% to $122.2 billion.
