Singapore’s NODX up 7.6% in February

This reverses the 2.1% decline recorded in the previous month.

Singapore's non-oil domestic exports (NODX) recorded a year-on-year (y-o-y) increase of 7.6% in February 2025, reversing the 2.1% decline seen in the previous month.

The growth was supported by increases in both electronic and non-electronic exports.

On an aggregate basis, NODX rose by 2.3% over January and February 2025, after adjusting for seasonal fluctuations related to the shifting Lunar New Year holidays.

Electronic exports expanded by 6.9% YoY in February, following a stronger growth of 9.5% in January.  The increase was driven by higher shipments of disk media products (up 40.6%), integrated circuits (up 6.9%), and personal computers (up 28.5%).

Additionally, non-electronic exports rose 7.8%, after falling 4.8% in January. Non-monetary gold surged 106.9%, measuring instruments increased 23.1%, and other specialty chemicals rose 37.5%.

Exports to the United States rose by 21.5%, building on the 27.8% growth recorded in January. The increase was driven by higher shipments of non-monetary gold, as well as food preparations, which rose by 35.6%, and medical apparatus, which expanded by 45.8%.

NODX to Taiwan surged by 77.9% in February, extending the 48.3% growth from the previous month. The strong performance was supported by exports of specialised machinery, which soared by 315.2%, measuring instruments, which climbed by 411.1%, and other specialty chemicals, which grew by 415.4%.

Exports to the European Union (EU27) expanded by 16.7% in February, reversing the 7.3% decline seen in January. This was largely due to higher shipments of pharmaceuticals, which rose by 63.6%, measuring instruments, which increased by 39.0%, and cocoa, which surged by 817.8%.

In contrast, shipments to China, Hong Kong, and Indonesia registered declines during the month.