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Singapore’s key exports chart surprise 2.1% slide in January on Chinese New Year distortions

Electronics growth eases, while non-electronics declines

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Elysia Tan

Elysia Tan

Published Mon, Feb 17, 2025 · 08:30 AM — Updated Tue, Feb 18, 2025 · 12:13 AM
    • Overall, total trade climbed 6.7 per cent from the corresponding year-ago period in January, slowing from the 19 per cent growth in the preceding month.
    • Overall, total trade climbed 6.7 per cent from the corresponding year-ago period in January, slowing from the 19 per cent growth in the preceding month. PHOTO: BT FILE

    SINGAPORE’S non-oil domestic exports (NODX) surprised in January as it declined 2.1 per cent year on year, following two months of growth, data from Enterprise Singapore (EnterpriseSG) showed on Monday (Feb 17).

    But economists attributed the drop to January 2024’s high base, as Chinese New Year fell later last year, in February, compared to this year’s late January.

    The weak performance should not be too much of a concern, considering the timing, said HSBC Asean economist Yun Liu.

    Singapore NodxSingapore economySingapore electronicsTradeexportsimports

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