[SINGAPORE] The Republic’s key exports jumped 13 per cent year on year in June after contracting briefly in the previous month, data from Enterprise Singapore (EnterpriseSG) showed on Thursday (Jul 17).
The May contraction for non-oil domestic exports (NODX) was revised to 3.9 per cent, from an earlier figure of 3.5 per cent.
Both electronics and non-electronics exports grew in June.
This brings NODX growth for the first half of 2025 to 5.2 per cent year on year.
EnterpriseSG may release a new forecast in August, it said in a footnote. The current full-year outlook is 1 to 3 per cent.
“EnterpriseSG is actively monitoring the evolving tariff situation and will adjust the 2025 NODX forecast as necessary to reflect changing market conditions,” it said.
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Shipments of electronic products grew 8 per cent year on year, extending the previous month’s 1.6 per cent. This was largely helped by integrated circuits, personal computers and bare printed circuit boards.
Non-electronic exports jumped 14.5 per cent year on year, swinging from the 5.8 per cent contraction in May. In particular, non-monetary gold surged by 211.9 per cent, while specialised machinery and other specialty chemicals also contributed to the increase.
Exports to less than half of Singapore’s top 10 markets grew in June.
NODX to Hong Kong expanded by the largest extent at 54.4 per cent year on year, following a 0.1 per cent increase in the previous month.
This was followed by South Korea at 33 per cent year on year, Taiwan at 28.3 per cent year on year and China at 8.5 per cent.
Exports to the euro zone contracted by the largest extent in June at 23.6 per cent year on year, reversing the 8.4 per cent growth in May.
This was followed by Thailand, Indonesia, Malaysia, the US and Japan.
Overall, total trade grew by 5.4 per cent year on year, extending the 1 per cent increase in May.
