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Singapore: Exports accelerate in January

February 17, 2015

In January, non-oil domestic exports (NODX) rose 4.3% over the same month of last year. The print came well above the 2.3% rise tallied in December and marked a four-month high.

The result reflected an increase in both electronic and non-electronic exports. According to International Enterprise (IE) Singapore, electronics exports expanded 5.0% in January, far exceeding the 0.4% rise tallied in the previous month. Meanwhile, exports of non-electronic products increased 4.0%, which was also above the 3.2% expansion recorded in December.

On a month-on-month seasonally-adjusted basis, exports increased 1.6% in January, which contrasted the 0.2% fall tallied in December.

FocusEconomics Consensus Forecast panelists see overall nominal exports expanding 2.4% in 2015, which would bring exports to a total of USD 456 billion. For 2016, the panel foresees exports growing 10.3% and thus reaching a total of USD 503 billion by end of the year.


Author:, Economist

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Singapore Trade January 2015 0

Note: Year-on-year and seasonally-adjusted month-on-month variation of non-oil domestic exports in %.
Source: Statistics Singapore (Singstat) and FocusEconomics calculations.


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