Singapore’s external trade continued its upward trajectory in December 2025, albeit at a slower pace, according to Enterprise Singapore. Non-oil domestic exports (NODX) increased by 6.1%, a moderation from November’s 11.5% growth. This rise was primarily fuelled by non-monetary gold and electronic products, including integrated circuits and disk media products.
The non-oil re-exports (NORX) sector also saw a significant expansion, growing by 15% in December, slightly up from the 14.5% increase in November. The electronics segment was the main contributor, with telecommunications equipment and parts of PCs showing notable growth.
Total trade for the month expanded by 12.3%, following an 8.7% increase in November. Both exports and imports contributed to this growth, with non-oil exports rising by 12.3% and total imports increasing by 14.2%.
NODX to key markets such as China, Taiwan, and Malaysia showed positive growth, with China seeing a 17.9% increase due to specialised machinery and metal removing machine-tools. However, exports to the US, Japan, and Hong Kong experienced declines.
The data highlights the resilience of Singapore’s trade sector amidst global economic uncertainties, with non-monetary gold acting as a safe-haven asset. Looking ahead, the trade landscape may face challenges, but the robust performance in electronics and strategic markets offers a positive outlook.
