SG narrows 2024 NODX growth forecast to 1.0% on weak H2 recovery

For 2025, Enterprise Singapore projects NODX growth of 1.0% to 3.0%.

Singapore has narrowed its non-oil domestic export growth forecast for 2024 to around 1.0% on a weaker-than-expected recovery in H2 2024.

In Q3, whilst NODX returned to expansion, its performance was affected by volatile segments such as s pharmaceuticals and ships & boats.

These sectors will continue to affect NODX in the last quarter of the year.

Enterprise Singapore added that electronic NODX has also moderated in September and October compared to the double-digit growth in July and August.

For 2025, Enterprise Singapore projects NODX growth of 1.0% to 3.0%, aligning with WTO forecasts of faster global merchandise trade growth compared to 2024.

Follow the link for more news on

Enterprise Singapore

non-oil domestic exports (NODX)

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia