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The Star
7 days ago
- Business
- The Star
Singapore key exports surprise with 13% expansion in June
Singapore's exports rose 5.2% in the first six months of 2025 amid tariff uncertainty. — The Straits Times SINGAPORE: Singapore's key exports enjoyed a surprisingly strong rebound in June, reversing the fall in May, on the back of growth in both electronics and non-electronics shipments. Non-oil domestic exports (Nodx) expanded 13% in June from a year ago, after a revised 3.9% decline in the previous month, data from Enterprise Singapore (EnterpriseSG) on July 17 showed. This beat the expectations of analysts polled by Reuters who forecast a rise of 5%. For the first six months of 2025, exports rose 5.2%. Growth was driven mainly by front-loading as companies raced to beat the original July 9 tariff reprieve deadline. EnterpriseSG said it is actively monitoring the evolving tariff situation and will adjust its 2025 Nodx forecast as necessary to reflect changing market conditions. The next forecast will be released in August. The agency had earlier said in its May quarterly trade review that it expects growth in key exports to come in at the lower end of its 1% to 3% forecast for 2025. US President Donald Trump, who has sent more than 20 letters to trading partners outlining the tariff rates for different countries, has yet to send a letter to Singapore. The tariff pause deadline was extended from July 9 to Aug 1, but continues to darken the outlook for Singapore companies. In June, shipments of electronic products grew 8% year on year, extending the 1.6% increase in the previous month. Integrated circuits, or chips, grew 17.5%, while personal computers surged 53.8% and bare printed circuit boards rose 17%. These three segments contributed the most to the increase in electronic shipments. Non-electronics shipments also expanded in June, by 14.5%, reversing the 5.8% decline in the previous month. Non-monetary gold exports soared 211.9%, while specialised machinery grew by a smaller 31.4%. Other speciality chemicals expanded 20.1%. Singapore's shipments to the United States again dropped, alongside falling shipments to the eurozone, Thailand, Malaysia, Indonesia and Japan. But exports to Hong Kong expanded 54.4% in June, following the 0.1% increase in the preceding month. This was due to growth in exports of specialised machinery, chips and non-monetary gold. Shipments to Taiwan also rose, by 28.3% in June, extending the 15.6% growth in the preceding month. This was a result of growth in exports of specialised machinery, measuring instruments and chips. Singapore's exports to South Korea expanded by 33% in June, following May's 4.9% rise. This was due to growth in exports of specialised machinery and personal computers. — The Straits Times/ANN
Straits Times
17-07-2025
- Business
- Straits Times
Singapore key exports surprise with 13% rebound in June
Find out what's new on ST website and app. Singapore's key exports rose 5.2 per cent in the first six months of 2025 amid tariff uncertainty.. SINGAPORE - Singapore's key exports enjoyed a surprisingly strong rebound in June, reversing the fall in May, as a result of an increase in both electronics and non-electronics shipments. Non-oil domestic exports (Nodx) expanded by 13 per cent in June from a year ago, after a revised 3.9 per cent decline in the previous month, data from Enterprise Singapore on July 17 showed. This beat the expectations of analysts who forecast a rise of around 5 per cent. For the first six months of 2025, exports rose 5.2 per cent. EnterpriseSG said it is actively monitoring the evolving tariff situation and will adjust its 2025 Nodx forecast as necessary to reflect changing market conditions. The next forecast will be released in August. The agency had earlier said in its May quarterly trade review that it expects growth in key exports to come in at the lower end of its 1 per cent to 3 per cent forecast for 2025. US President Donald Trump, who has sent more than 20 letters to trading partners outlining the tariff rates for different countries, has yet to send a letter to Singapore. Top stories Swipe. Select. Stay informed. Business Market versus mission: What will Income Insurance choose? Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore 2 weeks' jail for man caught smuggling over 1,800 vapes and pods into Singapore Life First look at the new Singapore Oceanarium at Resorts World Sentosa Opinion AI and education: We need to know where this sudden marriage is heading Singapore Coffee Meets Bagel's Singpass check: Why I'll swipe right on that Singapore Jail for man who fatally hit his daughter, 2, while driving van without licence Sport 'Like being in a washing machine with 40 deg C water': Open water swimmers brave challenging conditions The tariff pause deadline was extended from July 9 to Aug 1, but continues to darken the outlook for Singapore companies. In June, shipments of electronic products grew 8 per cent year on year, extending the 1.6 per cent increase in the previous month. Integrated circuits, or chips, grew 17.5 per cent. Meanwhile, personal computers surged 53.8 per cent, and bare printed circuit boards rose 17 per cent. These three segments contributed the most to the increase in electronic shipments. Non-electronic shipments also expanded in June, by 14.5 per cent, reversing the 5.8 per cent decline in the previous month. Non-monetary gold exports soared 211.9 per cent, while specialised machinery grew by a smaller 31.4 per cent. Other specialty chemicals expanded 20.1 per cent. Singapore's shipments to the United States again dropped, alongside falling shipments to the Eurozone, Thailand, Malaysia, Indonesia and Japan. But exports to Hong Kong expanded 54.4 per cent in June, following the 0.1 per cent increase in the preceding month. This was due to growth in exports of specialised machinery, chips and non-monetary gold. Shipments to Taiwan also rose, by 28.3 per cent in June, extending the 15.6 per cent growth in the preceding month. This was a result of growth in exports of specialised machinery, measuring instruments and chips. Singapore's exports to South Korea also expanded by 33 per cent in June, following May's 4.9 per cent rise. This was due to specialised machinery, measuring instruments and personal computers exports growing.
Straits Times
17-06-2025
- Business
- Straits Times
Singapore shares rise even as exports in May fall; STI up 0.6%
Across the broader market, advancers edged out decliners 275 to 210, after 1.2 billion securities worth $993.8 million were traded. PHOTO: ST FILE Singapore shares rise even as exports in May fall; STI up 0.6% SINGAPORE - Shares on the local bourse ended higher on Tuesday (Jun 17), even as Singapore's key exports declined 3.5 per cent year on year in May, reversing sharply from April's surge. The benchmark Straits Times Index (STI) rose 0.6 per cent or 22.18 points to close at 3,930.64. Across the broader market, advancers edged out decliners 275 to 210, after 1.2 billion securities worth $993.8 million were traded. The top gainer on the STI was CapitaLand Integrated Commercial Trust (CICT), which rose 1.9 per cent or $0.04 to $2.17. Telco giant Singtel was the biggest decliner, slipping 0.5 per cent or $0.02 to $3.93. The trio of local banks finished in positive territory. DBS rose 0.7 per cent or $0.30 to S$44.46, UOB edged up 0.4 per cent or $0.13 to $34.95, and OCBC climbed 0.4 per cent or $0.07 to $16.09. Elsewhere in Asia, markets ended on a mixed note. Hong Kong's Hang Seng Index slipped 0.3 per cent, Malaysia's FTSE Bursa Malaysia KLCI declined 0.6 per cent, and Australia's ASX 200 edged down 0.1 per cent. In contrast, South Korea's Kospi inched up 0.1 per cent, while Japan's Nikkei 225 gained 0.6 per cent. In Singapore, data released on Tuesday showed that its latest non-oil domestic exports (Nodx) print reversed from the preceding month's 12.4 per cent jump and disappointed market expectations of 7.8 per cent growth. Exports to most major trading partners declined, with both electronics and non-electronics shipments weakening. The data suggests some softening in earlier front-loading activity, noted UOB's global economics and markets research team in a report. The bank's associate economist Jester Koh wrote: 'The sluggish Nodx outturn in May did not come as a huge surprise given that there was some evidence that export activity to trading partners were slowing, such as the month-on-month contraction in South Korea's and Taiwan's imports from Singapore for the month of May.' In light of the weaker showing, UOB adjusted its full-year 2025 Nodx forecast downward to a range of 1 to 3 per cent growth, from the earlier projection of 2 to 4 per cent growth, to reflect recent developments. The bank noted reduced confidence in its projections, citing a fluid situation and heightened market attention on the potential impact of 'new' unilateral tariff rates. Koh also cautioned that the payback from earlier front-loading could result in 'a more protracted downturn in trade activity' in the second half of 2025 while 'escalating geopolitical tensions in the Middle East could further dampen business and consumer confidence'. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
22-05-2025
- Business
- Straits Times
Singapore expects key exports to come in at lower end of 1-3% in growth forecast for 2025
Non-oil domestic exports (Nodx) grew by 3.3 per cent in the first quarter of 2025, extending the 2.4 per cent expansion recorded in the last quarter of 2024. ST PHOTO: BRIAN TEO Singapore expects key exports to come in at lower end of 1-3% in growth forecast for 2025 SINGAPORE - Singapore expects growth in key exports to come in at the lower end of its 1 to 3 per cent forecast in 2025 due to developments on the trade and tariff fronts clouding the global outlook. Non-oil domestic exports (Nodx) grew by 3.3 per cent in the first quarter of 2025, extending the 2.4 per cent expansion recorded in the last quarter of 2024. 'Notwithstanding the recent US-China trade tension de-escalation, downside risks could intensify following the expiration of the 90-day reciprocal tariff reprieve,' Enterprise Singapore said on May 22. 'These include a weaker-than-expected demand from key partners and moderation of growth in key products.' The trade agency also noted that the 2025 external outlook has weakened amid tariff and trade policy uncertainty but remains supportive of growth. The International Monetary Fund (IMF) expected the global economy to grow by 2.8 per cent in 2025, and growth is expected across Singapore's key trade partners, including China, the US, the EU 27 and ASEAN-5, which comprises Indonesia, Malaysia, the Philippines and Thailand besides Singapore. In the first quarter of 2025, Singapore's non-electronic exports rose by 1.8 per cent, reversing a 0.7 per cent decline in the previous quarter. The increase was led by a 637.4 per cent surge in shipments of structures of ships and boats, followed by an 86.5 per cent rise in non-monetary gold and an 11.5 per cent increase in measuring instruments. Singapore's electronics exports grew by 9.5 per cent, easing from the 14.2 per cent expansion in the previous quarter. Growth was driven by a personal computers, disk media products and integrated circuits. Shipments of key exports to the United States, Taiwan and Hong Kong grew by 19.2 per cent, 55.5 per cent and 24.7 per cent respectively in the first three months of 2025. Total merchandise trade increased by 4.9 per cent in the first quarter of 2025. Total imports rose by 6.4 per cent, while total exports grew by 3.6 per cent. Growth in exports was driven by non-oil exports at 6.7 per cent, while oil exports declined by 10 per cent. Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
16-05-2025
- Business
- Straits Times
Singapore key exports surge 12.4% in April, much more than expected
Non-oil domestic exports surged 12.4 per cent year on year in April, compared to a 5.4 per cent rise in the previous month. ST PHOTO: LIM YAOHUI Singapore key exports surge 12.4% in April, much more than expected SINGAPORE - Singapore's key exports grew at a faster pace in April, boosted by stronger shipments of both electronics and non-electronics. Non-oil domestic exports (Nodx) surged 12.4 per cent year on year in April, compared to a 5.4 per cent rise in the previous month, according to figures released by trade agency Enterprise Singapore (EnterpriseSG) on May 16. April's increase far outstripped the 4.3 per cent growth forecast by analysts in a Bloomberg poll. Electronics exports expanded 23.5 per cent year on year, almost double the 12.2 per cent growth in March. Growth was underpinned by personal computers, disk media products and integrated circuits. Non-electronics exports grew 9.3 per cent in April, higher than the revised 3.7 per cent increase in March. Non-monetary gold led the charge with an 80.4 per cent expansion, while structures of ships and boats as well as specialised machinery rose by 7.2 per cent. Nodx to Indonesia, Taiwan and South Korea grew, though shipments to Malaysia and China -Singapore's single largest export market – declined. The main drag on Nodx was China, which saw a 17 per cent drop in shipments compared to a revised 29.5 per cent plunge in March. Shipments to the United States grew 1.2 per cent in April, a sharp drop from the revised 6.2 per cent growth in March. Exports to Indonesia surged 111.2 per cent in April, following a revised 62.9 per cent growth in the preceding month thanks to structures of ships and boats, non-monetary gold and personal computers. Shipments to Taiwan grew by 47.4 per cent in April, following the 45.7 per cent expansion in the preceding month, due to specialised machinery, integrated chips and measuring instruments. Nodx to South Korea expanded by 38.1 per cent in April, following the 21.6 per cent growth in March, due to specialised machinery, integrated chips and personal computers. Join ST's WhatsApp Channel and get the latest news and must-reads.
