Singapore’s key exports rose by 13% year-on-year in June, marking a strong rebound after a brief decline in May, according to data released by Enterprise Singapore (EnterpriseSG) on Thursday (Jul 17).
The contraction in May’s non-oil domestic exports (NODX) was revised to a 3.9% drop, slightly deeper than the initially reported 3.5%.
Both electronics and non-electronics shipments posted gains in June, bringing total NODX growth for the first half of 2025 to 5.2% compared to the same period last year.
EnterpriseSG noted that it may update its full-year forecast—currently projected at 1% to 3%—in August. “EnterpriseSG is closely monitoring ongoing tariff developments and will revise the 2025 NODX forecast as needed to reflect evolving market conditions,” the agency stated.
Electronics exports climbed 8% year-on-year, building on May’s modest 1.6% growth. The increase was mainly supported by higher shipments of integrated circuits, personal computers, and bare printed circuit boards.
Non-electronic exports surged 14.5% from a year earlier, a sharp turnaround from May’s 5.8% decline. Notably, exports of non-monetary gold jumped 211.9%, while specialised machinery and specialty chemicals also contributed significantly.
However, growth was seen in fewer than half of Singapore’s top 10 export markets in June.
The sharpest increase was in exports to Hong Kong, which surged 54.4% year-on-year, up from just 0.1% growth in May. This was followed by South Korea (up 33%), Taiwan (up 28.3%), and China (up 8.5%).
Conversely, exports to the eurozone posted the steepest decline at 23.6%, reversing May’s 8.4% rise. Exports also fell to Thailand, Indonesia, Malaysia, the United States, and Japan.
In total, Singapore’s overall trade rose 5.4% year-on-year in June, accelerating from a 1% increase in May.
