Singapore NODX down 4.6% YoY in October

It was driven primarily by weaker demand for non-electronic products.

Singapore’s non-oil domestic exports (NODX) declined by 4.6% year-on-year (y-o-y) in October 2024.

According to Enterprise Singapore, this is a weaker-than-expected performance following a modest 0.9% increase in September.

Electronic NODX grew by 2.6%, reversing a 0.7% decline in September. Significant contributors to this growth were integrated circuits (ICs), disk media products, and other computer peripherals, which rose by 16.6%, 96.4%, and 236.1%, respectively.

Non-electronic NODX dropped 6.7% year-on-year in October 2024, following a 1.4% increase in September. The decline was primarily driven by significant drops in specialized machinery (-22.6%), pharmaceuticals (-40.4%), and petrochemicals (-7.4%), which were the main contributors to the overall decrease in non-electronic exports.

Exports to Taiwan, Malaysia, the US, South Korea, and Thailand grew, whilst exports to China, the EU, and Japan dropped.

NODX to China contracted by 22.3%, following a slight 0.1% decrease in September, mainly due to declines in specialised machinery, ICs, and measuring instruments.

Additionally, exports to the EU 27 fell by 21.4%, reversing a 37.4% increase in September, driven by drops in pharmaceuticals, telecommunications equipment, and measuring instruments.

Exports to Japan dropped by 23%, following an 11.3% decline in September, with personal computers, measuring instruments, and specialized machinery all seeing significant declines.

Overall trade also decreased by 2% in October, following a 0.4% increase in September. Total exports fell by 3.1%, whist total imports decreased by 0.9%, after showing a flat performance (0.0%) in the previous month and a 0.8% increase in imports.

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