The Business Times
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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
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

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