Singapore NODX up 7.1% in Q2

Full-year 2025 NODX forecast maintained at 1% to 3%.

Singapore’s non-oil domestic exports (NODX) grew by 7.1% year-on-year (YoY) in the second quarter of 2025, following a 3.3% increase in the previous quarter.

The growth was driven by strong performances in both electronics and non-electronics sectors.

On a YoY basis, electronic NODX expanded 10.5% in Q2 2025, up from 9.5% in the previous quarter.

Key contributors included personal computers (PCs), integrated circuits (ICs), and disk media products, which rose 78%, 13.9%, and 5.5%, respectively.

Non-electronic NODX increased 6% in Q2, improving on the 1.8% growth in Q1.

Major contributors to the rise were non-monetary gold (+82.5%), specialised machinery (+9.1%), and ship and boat structures.

Exports to Taiwan, Indonesia, and South Korea recorded strong gains of 31.1%, 32.5%, and 24.5% respectively.

The International Monetary Fund (IMF) projects global economic growth of 3% in 2025, with positive outlooks for Singapore’s key trading partners.

Additionally, the World Trade Organisation (WTO) expects global merchandise trade volume to grow 0.1%, a revision from an earlier projected decline.

Singapore maintains its full-year 2025 NODX growth forecast between 1% and 3%, anticipating a slower second half due to tariff resumption from August and ongoing uncertainties.

Meanwhile, Singapore’s total services trade grew 1.7% YoY in Q2 2025, with services exports rising 2.7% and imports up 0.6%.

A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia