Singapore’s external trade experienced a slowdown in November 2025, with non-oil domestic exports (NODX) rising by 11.6%, a decrease from October’s 21.7% surge. This growth was primarily driven by pharmaceuticals and electronic products, according to Enterprise Singapore. The total trade increased by 8.8% year-on-year, following a 23.1% expansion in the previous month.
NODX saw a notable boost from electronic products, which grew by 13.1% year-on-year. Integrated circuits (ICs), personal computers (PCs), and bare printed circuit boards (PCBs) were significant contributors, with increases of 22.9%, 48.0%, and 26.8%, respectively. Non-electronic NODX also rose by 11.1%, led by pharmaceuticals, pumps, and non-electric engines and motors, which saw substantial growth rates of 369.8%, 361.2%, and 123.2%.
The US, EU 27, and Taiwan were key markets for NODX, with exports to the US expanding by 106.0% due to pharmaceuticals, structures of ships and boats, and PCs. The EU 27 saw a 66.3% increase, driven by pharmaceuticals and non-electric engines, whilst Taiwan’s growth moderated to 15.7%.
Non-oil re-exports (NORX) rose by 14.5%, with electronics growing by 36.0%, thanks to PCs, ICs, and telecommunications equipment. However, non-electronic NORX declined by 8.6%, affected by decreases in non-monetary gold, petrochemicals, and electrical machinery.
Overall, Singapore’s trade performance in November indicates a continued reliance on pharmaceuticals and electronics, with future growth potentially influenced by these sectors’ volatility.
