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Singapore's May non-oil domestic exports down 0.1% y/y (vs. expected -1.0%)

2024-12-30FOREXLIVEFOREXLIVE
Not as bad as forecast and way better than the huge drop in April y/y. The m/m is not as encouraging.

Singapore's non-oil domestic exports (NODX) down 0.1% y/y

  • expected -1.0%
  • prior -9.6% drop in April
  • electronics exports growing for a second straight month

For the m/m, also -0.1% but painting a disappointing picture:

  • expected +1.7%
  • prior +7.3%
Singapore city 15 February 2024 2

Inconsistent global demand continues to weigh on NODX. A sustained improvement has been, and looks like remaining, elusive.

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