Singapore skyline

Singapore Trade June 2023

Singapore: Non-oil domestic exports decline in June

Non-oil domestic exports (NODX) sank 15.5% annually in June, on the heels of May’s 14.8% plummet. Both electronics and non-electronics exports declined. Shipments to Malaysia, Indonesia and South Korea fell, while shipments to Hong Kong and China rose.

In seasonally adjusted month-on-month terms, NODX exports rose 5.4% in June, compared to May’s 14.6% decrease.

On the outlook, United Overseas Bank’s Alvin Liew said:

“The rebound in Hong Kong’s Jun NODX and the second month of positive China’s NODX growth are welcome signs although we again, are uncertain if it can be sustained. Overall, the export outlook remains troubled, and we continue to expect more

pronounced y/y NODX contractions for a few more months before improving in the later part of 2H 2023.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest