SINGAPORE: Singapore’s non-oil domestic exports (NODX) fell by 2.1 per cent in January, reversing the 9 per cent expansion that was seen in December last year.
Electronics grew, while non-electronics saw a decline, according to data released by Enterprise Singapore on Monday (Feb 17).
A Reuters poll had forecast a 1.1 per cent drop.
On a year-on-year basis, electronic product exports rose by 9.6 per cent in January, following an 18.6 per cent expansion in December 2024.
Integrated circuits, PCs and disk media products contributed the most to the increase, growing by 14.6 per cent, 66.7 per cent and 31.5 per cent respectively.
Non-electronic exports fell by 4.8 per cent in January, following a 6.6 per cent rise in December 2024.
The biggest declines were in pharmaceuticals, specialised machinery and miscellaneous manufactured articles, which fell by 53 per cent, 9.9 per cent and 20 per cent respectively.
NODX to Hong Kong, the United States and Taiwan grew in January – by 113.3 per cent, 27.8 per cent and 48.3 per cent respectively – while NODX to China, Indonesia, the European Union, Thailand and Malaysia declined.
Non-oil re-exports (NORX) grew by 7.4 per cent in January, after an expansion of 22.1 per cent in the previous month.
Re-exports of electronic products rose in January with an increase of 18.2 per cent while non-electronic products declined by 5.7 per cent.
NORX to Taiwan, Malaysia and the United States grew by 210 per cent, 45.6 per cent and 39.6 per cent respectively in January.
Total trade increased by 6.7 per cent year-on-year in January following the 19 per cent growth in the previous month.
Both exports and imports grew, by 3 per cent and 11.2 per cent respectively.
