Singapore NODX Unexpectedly Falls in May
2025-06-17 00:34
By
Chusnul Chotimah
1 min. read
Singapore’s non-oil domestic exports (NODX) unexpectedly slumped 3.5% yoy in May 2025, reversing a 12.4% jump in April and missing expectations of an 8.0% rise.
This marked the first decline in non-oil domestic exports since January and the strongest contraction in seven months, amid the imposition of new US tariffs, with exports to the US plunging 20.6%.
Electronic product shipments grew by 1.7%, easing sharply from a 23.4% surge in April, boosted by sales of PCs (50.9%), ICs (49.0%), and consumer electronics (4.3%).
Additionally, non-electronic exports fell by 5.3%, reversing a 9.3% rise in April, weighed down by petrochemicals (-17.8%), non-monetary gold (-25.9%), and specialised machinery (-11.7%).
Exports also shrank to Thailand (-17.0%), Malaysia (-7.6%), Japan (-7.4%), China (-3.0%), and the EU (-4.8%) while soaring to Taiwan (17.25%).
Monthly, NODX plunged 12.0%, the steepest decline since May 2023, reversing a 10.4% surge in April, which was the fastest pace in five months.