Singapore’s key exports growth eases to 6.1% in December as pharma drags
UOB raises its 2026 NODX expansion projection to 3%, from 1.2% previously; OCBC forecasts a moderation of around 1 to 3%
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[SINGAPORE] The Republic’s key exports rose by a slower-than-expected 6.1 per cent year on year in December, bolstered by electronics shipments but weighed down by pharmaceuticals, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Jan 16).
The electronics boom is expected to continue supporting non-oil domestic exports (NODX) growth in 2026, economists said, with UOB raising its full-year projection.
The latest print marked moderation from several months of double-digit expansions: NODX grew 11.5 per cent in November; and 21.1 per cent in October. The median estimate for the latest print in a Bloomberg poll of private-sector economists was a 10.1 per cent jump.
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