Singapore skyline

Singapore Trade February 2019

Singapore: Non-oil exports unexpectedly rebound in February, despite another fall in electronics exports

Non-oil domestic exports (NODX) increased by 4.9% year-on-year in February, rebounding from January’s 10.1% decline which had marked the sharpest fall in over two years. The reading broke a run of three consecutive monthly contractions and confounded analysts’ expectations of a 3.4% contraction. On a month-on-month seasonally-adjusted basis, NODX expanded 16.0% in February following the previous month’s 5.7% decrease.

February’s result was underpinned by a healthy 9.4% jump in non-electronic NODX which was only partially offset by an 8.0% fall in electronics exports. That said, non-electronic NODX growth was largely thanks to the volatile pharmaceutical and non-monetary gold subsectors. Particularly, exports to China surged thanks to greater exports of non-monetary gold, aromatic chemicals and petrochemicals. Demand for Singaporean goods in Hong Kong, the U.S. and Thailand also expanded, whereas demand from Japan, South Korea and the EU28 continued to contract.

Singapore Trade Balance Forecast

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