NODX
September surge masks looming export slowdown to 6% in 2027
September surge masks looming export slowdown to 6% in 2027
Maybank raised its 2026 forecast to 27% from 18% in the same report.Non-oil domestic exports (NODX) growth could slow to 6% in 2027 as supply chain pressures and higher financing costs weigh on shipment momentum, Maybank Research Pte Ltd said.
Export forecast raised to 25% as September shipments hit record
Stripping out one-off items exports still rose an estimated 36.1% year-on-year.
NODX forecast lifted to 15.5% as US tariff threatens one-third of exports
Enterprise Singapore also raised its 2026 NODX band to 14%-16% from 3%-5% as July exports jumped 24.2%.
NODX 2026 outlook lifted to 14%-16% on AI demand surge
Companies expect improved overseas deliveries and higher average selling prices in Q3.
Monday Wrap: AI-powered fleets, pre-let offices, and Singapore's startup ascent
However, the export boom rests on a single, narrowing driver: AI.
Export split widens as electronics surge 94.8%
AI demand and Middle East energy prices are set to keep Singapore's export gap wide.
Why Singapore's tech boom masks a widening non-electronics slump
UOB warns a 'K-shaped' trend will persist as chips dominate and energy costs drag other sectors.
Analysts clash over 5.0% export forecast amidst AI risks
UOB raises its forecast to 5.0% on surging AI tailwinds, whilst RHB maintains conservative 3.0% target.
Exports to remain steady in 2026 but volatile factors threatens growth
Full-year 2026 NODX is projected at 3% following ean stimated 4% growth in 2025.
Singapore’s October exports surge 22.2%
Both electronics and non-electronics exports grew for the month.
Analysts see H2 rebound for non-oil domestic exports
Sector to benefit from a more favourable global backdrop.
Meaningful H2 recovery underway for Singapore’s NODX: experts
NODX fell 0.1% YoY in May.
Non-oil domestic exports slip 0.1% YoY in May
A 6.0% YoY drop in non-electronic products drove the decline.
Singapore’s NODX to push past official 2024 forecast, UOB
Base effects relied on for NODX recovery
Electronics cycle shows tentative signs of bottoming – expert
In September, electronics NODX saw a narrower contraction of 11.6 YoY.
Non-oil domestic exports drop 13.2% YoY in September
The drop in electronics and non-electronic exports drove the overall decline.
NODX records worse contraction in almost a decade
This is the eighth straight month of contraction.
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