Singapore's key exports rise by 22% in October, beating forecasts

Singapore's key exports rose 22.2 per cent year-on-year in October, up from seven per cent in September, according to data from Enterprise Singapore on Monday (Nov 17).

Singapore's non-oil domestic exports (Nodx) for October far exceeded forecasts — both Bloomberg and Reuters polls predicted a 7.5 per cent rise. 

The rise in Nodx was driven by growth in exports of both electronics and non-electronics, said EnterpriseSG, adding that Nodx growth for the first 10 months of 2025 is 4.1 per cent year-on-year. 

Electronic exports rose 33.2 per cent, extending the 30.4 per cent rise in the previous month.

Growth in shipments of electronics was particularly driven by the 77.7 per cent spike in personal computer exports, while exports of integrated circuits rose by 40.9 per cent.

Non-electronic exports also expanded in October, rising to 18.8 per cent year-on-year in October from 0.5 per cent in September.

Growth was mainly driven by a 176.8 per cent jump in non-monetary gold exports.

Shipments of pharmaceuticals, part of non-electronic exports, rose by 25.2 per cent in October.

Among Singapore's key markets, exports to Taiwan, Thailand and Hong Kong rose strongly, extending gains from the previous month.

Exports to Japan and the US fell, with Nodx to the US shrinking further to a 12.5 per cent.

Overall, Singapore's total trade expanded by 23.2 per cent in October.

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dana.leong@asiaone.com