NODX falls 3.3% in Q3 after four straight quarters of growth
Singapore has narrowed its key exports growth forecast for 2025 to around 2.5%. The earlier projection was between 1 and 3%. This takes into account moderating export gains, as potential renewed tariff actions from the US could dampen demand. The latest export data for Q3 this year showed that NODX fell 3.3%, reversing four quarters of positive growth. This was weighed down by non-electronics, which declined by 6.5% year-on-year. The biggest contributors were food preparations, petrochemicals and pharmaceuticals. Barnabas Gan, the Group Chief Economist at RHB Bank shares his analysis.
Singapore has narrowed its key exports growth forecast for 2025 to around 2.5%. The earlier projection was between 1 and 3%. This takes into account moderating export gains, as potential renewed tariff actions from the US could dampen demand. The latest export data for Q3 this year showed that NODX fell 3.3%, reversing four quarters of positive growth. This was weighed down by non-electronics, which declined by 6.5% year-on-year. The biggest contributors were food preparations, petrochemicals and pharmaceuticals. Barnabas Gan, the Group Chief Economist at RHB Bank shares his analysis.
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