, Singapore
Photo by CHUTTERSNAP on Unsplash

Non-oil domestic exports unlikely to grow in 2023: forecast

Enterprise Singapore’s NODX growth projection is -2.0% to 0.0%.

Singapore’s non-oil domestic exports (NODX) growth in 2023 will either fall further or be unchanged from last year, according to Enterprise Singapore.

In a report, the statutory board said it maintained its NODX growth projection of -2.0% to 0.0% for 2023.

In 2022, NODX growth continued to moderate, rising only by 3.0% YoY from a 12.1% growth in 2021.

The more moderate expansion was on the back of slower YoY increases in both electronic and non-electronic segments.

Electronic NODX growth eased to 0.5% YoY in 2022 from 16.3% in 2021, whilst non-electronic NODX growth moderated from 10.9% in 2021 to 3.8% in 2022.

With no expected growth on NODX for the year, Enterprise Singapore also retained its growth projection for total merchandise trade at -2.0% to 0.0%.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Event News

Event News