Singapore exports up 5.4% in March

Taiwan, Indonesia, and South Korea are the top growth markets.

Singapore’s non-oil domestic exports (NODX) rose 5.4% year-on-year (YoY) in March 2025, easing from 7.6% growth in February, as per data from Enterprise Singapore. Both electronics and non-electronics contributed to the growth.

Overall, NODX grew by 3.3% in the first quarter of 2025.

Strong demand from key regional markets contributed to the March performance, with Taiwan, Indonesia, and South Korea emerging as the top growth destinations. However, exports to China registered a decline.

NODX to Taiwan surged 45.7%, driven by growth in specialised machinery (+92.5%), measuring instruments (+93.2%), and integrated circuits (+18.0%). Exports to Indonesia rebounded with a 63.0% increase, reversing a 5.4% drop in February, mainly due to ship structures, personal computers, and non-monetary gold. South Korea saw a 21.6% rise in NODX, supported by machinery (+28.2%), instruments (+220.1%), and ICs (+67.0%).

Non-oil re-exports (NORX) also rose 5.5% YoY in March, slowing from 12.7% growth in February, with both electronics and non-electronics posting gains.