Singapore's key exports fall unexpectedly by 3.5% after three months of expansion
SINGAPORE: Singapore's non-oil domestic exports (NODX) declined by 3.5 per cent in May, a sharp reversal from the 12.4 per cent growth recorded in April.
Electronics grew, while non-electronics saw a decline, according to data released by Enterprise Singapore on Tuesday (Jun 17).
A Reuters poll had forecast growth of 8 per cent.
On a year-on-year basis, electronic product exports rose by 1.7 per cent in May, a significant decline in growth following a 23.4 per cent expansion in April.
Integrated circuits, PCs and consumer electronics were the main drivers of growth in electronic NODX, rising by 4.3 per cent, 50.9 per cent, and 49 per cent, respectively.
Non-electronic exports fell by 5.3 per cent in May, following a 9.3 per cent rise in the previous month.
The biggest declines were in petrochemicals, non-monetary gold and specialised machinery, which fell by 17.8 per cent, 25.9 per cent and 11.7 per cent respectively.
NODX to the United States, Thailand and Malaysia declined in May by 20.6 per cent, 17 per cent and 7.6 per cent, respectively, while NODX to Taiwan, Indonesia, South Korea and Hong Kong grew.
Non-oil re-exports (NORX) grew by 16.1 per cent in May, falling from the 39.3 per cent expansion seen in April.
Both electronics and non-electronics NORX saw an increase.
Re-exports of electronic products rose by 29.9 per cent in May, moderating from the 58.5 per cent growth seen in the previous month.
Non-electronic products saw growth of 1.1 per cent, following the 15.5 per cent expansion in April 2025.
NORX to Taiwan, the United States and Vietnam grew by 152.5 per cent, 86.9 per cent and 49.1 per cent, respectively, in May.
Total trade increased by 1 per cent in May following the 14.7 per cent growth seen in the preceding month.
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