The Business Times
business-time-50

Singapore exports tipped for slower growth after worse-than-expected contraction in July

But some economists believe the relatively lower US tariff rate that the Republic faces, along with growing electronic demand, could mitigate any slowdown

Summarise
google-preferred-sourceAdd BT as a preferred source
Sharon See

Sharon See

Published Mon, Aug 18, 2025 · 06:10 PM
    • The 4.6% year-on-year decline in NODX in July is a sharp contrast from the revised 12.9% jump clocked in June.
    • The 4.6% year-on-year decline in NODX in July is a sharp contrast from the revised 12.9% jump clocked in June. PHOTO: AFP

    [SINGAPORE] The Republic is poised for slower export growth in the second half of 2025, economists said, after last month’s numbers came in worse than expected.

    Non-oil domestic exports (NODX) shrank 4.6 per cent year on year in July, in a sharp contrast from the revised 12.9 per cent jump clocked in June, data from Enterprise Singapore (EnterpriseSG) showed on Monday (Aug 18).

    The decline was also deeper than the 1 per cent contraction that private-sector economists polled by Bloomberg were expecting.

    Singapore economySingapore NodxTradeTrump tariffsUS tariffs

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More