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yesterday

Singapore Exports Slide 4.6% in July as US Shipments Plunge

Officials warn of slower second-half growth from fading export front-loading under persistent U.S. tariff uncertainty.

A view of the Brani container terminal in Singapore June 26, 2025. REUTERS/Edgar Su/File photo
A container vessel docked at Singapore's Pasir Panjang port in July. Non-oil domestic exports slipped 4.6 percent in July from a year earlier, latest government data shows, as shipments to the US plunged by more than 40 percent
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Overview

  • Singapore’s non-oil domestic exports declined 4.6% year-on-year in July, missing forecasts for a 1.8% contraction.
  • Shipments to the United States fell 42.7%, largely reflecting a 93.5% plunge in pharmaceutical exports.
  • Electronics exports ticked up in July, driven by gains in personal computers and circuit boards, while other non-electronics categories registered declines.
  • After a stronger first half boosted by front-loaded shipments, the government raised its full-year GDP growth forecast to 1.5%–2.5%.
  • Policy makers warn that fading export front-loading and ongoing U.S. tariff uncertainty could dampen growth in the second half of the year.