Exports decline 25% in January

Electronics and non-electronics decreased.

The non-oil domestic exports (NODX) went down 25% in January 2023 from a 20.6% decrease in the previous month, EnterpriseSingapore said.

On a monthly and seasonally adjusted basis, NODX went up by 0.9% in January 2023 from a 2.9% decrease. Electronic domestic exports fell whilst non-electronics grew.

On a yearly basis, total trade fell 10.4% in January 2023, following the 7.7% decline in the previous month.

Total exports fell 9.6%, following the previous month’s 7.1% decrease and total imports shrunk by 11.3%, following the previous month’s 8.2% decline.

On a monthly seasonally-adjusted basis, total trade fell by 0.2% in January 2023, following the 0.8% decline in December 2022. 

On a seasonally-adjusted basis, total trade reached $103.1b in January 2023, less than the previous month's $103.3b.