Singapore Trade Balance August 2022


Singapore: Non-oil domestic exports (NODX) rebound in August

September 19, 2022

Non-oil domestic exports (NODX) soared 11.4% annually in August (July: +7.0% year-on-year). August’s rise was led by increasing NODX to the EU, Indonesia and the U.S.; on the other hand, NODX to China, Hong Kong and Taiwan fell.

In seasonally-adjusted month-on-month terms, NODX exports declined 3.9% in August, contrasting July’s 1.4% increase.

Commenting on the release, Alvin Liew, senior economist at UOB, stated:

“Singapore’s robust NODX performance to date in 2022 remains in line with the regional economies’ continued recovery. We are still cautiously positive on the outlook for some segments of manufacturing (and by that extension, their exports) but, we are also cognizant of a potentially much slower electronics performance.”

FocusEconomics Consensus Forecast panelists project exports to total USD 540.0 billion in 2022 and rise to USD 568.0 billion in 2023.


Sample Report

Looking for forecasts related to Trade Balance in Singapore? Download a sample report now.


Singapore Economic News

More news

Search form