Singapore’s export figure might be headed for its steepest drop in three years: report

Pharmaceuticals remain a wild card.

Analysts fear that Singapore will report a steep decline in exports when it reports its headline non-oil domestic exports (NODX) figure for March.

According to DBS, export sales are expected to plunge by 17.1% year-on-year. This will probably be the steepest yearly decline since February 2013, DBS noted.

In particular, DBS highlighted that the surge in pharmaceutical exports which drove last month’s NODX uptick is unlikely to be sustainable.

“Chances are not high given the volatile nature of the pharmaceutical industry. Moreover, the pharmaceutical sector is the least integrated industry within the economy. With all its ups and downs, it has little impact on the rest of the economy except on headline GDP growth,” said DBS.

Apart from pharmaceutical volatility, key electronics exports have also remained weak, on back of sluggish global demand.

“Exports to China have been falling and that has been the main drag on overall export performance. In addition, the slowdown in China is structural in nature. And that suggests that the current NODX weakness may persist for a while,” DBS said.

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