Overview
- Non-oil domestic exports fell 11.3% year on year in August, missing a Reuters poll that expected a 1.0% rise and following a revised 4.7% drop in July.
- Electronics shipments declined 6.5%, led by disk media products, integrated circuits and parts of personal computers, while non-electronics fell 13% on specialised machinery, food preparations and petrochemicals.
- Exports to the United States tumbled 28.8% after a 42.8% plunge in July, with shipments to China down 21.5% and to Indonesia down 39.6%.
- Enterprise Singapore previously guided 2025 NODX growth of 1% to 3% but says it is monitoring the tariff fallout and may revise the outlook if conditions worsen.
- Trade Minister Gan Kim Yong warned that U.S. levies on Singapore’s trading partners reduce demand through global supply chains, weighing on the city-state’s export orders.