FX.co ★ Singapore NODX Rises the Most in 11 Months

In June 2025, Singapore’s non-oil domestic exports (NODX) experienced a remarkable 13% year-on-year increase, bouncing back significantly from May’s 3.9% decline and surpassing the anticipated 5.0% growth. This surge represents the most robust expansion in NODX since July 2024, fueled by upticks in both electronic and non-electronic exports. Non-electronic exports escalated by 14.5%, reversing from May's 5.8% decrease, largely due to substantial rises in non-monetary gold (211.9%), specialized machinery (31.4%), and other specialty chemicals (20.1%). Concurrently, exports of electronic products grew by 8.0%, building on a 1.6% increase in May, with significant contributions from integrated circuits (ICs) (53.8%), personal computers (PCs) (17.5%), and printed circuit boards (PCBs) (17.0%). Exports expanded to regions such as Hong Kong (54.4%), South Korea (33.0%), Taiwan (28.3%), and China (8.5%), contrasting with declines in Indonesia (-13.6%), the United States (-4.8%), and Japan (-3.4%). On a month-to-month basis, NODX surged 14.3%, marking the sharpest rise since November 2024, effectively recovering from May's 12.0% drop and representing the fastest growth in seven months.