FX.co ★ Singapore's Non-Oil Exports Show Dramatic Decline in November

Singapore has experienced a significant drop in its non-oil export growth, as reflected in the latest data released on December 17, 2025. In November, the non-oil exports growth rate fell to 11.60% year-over-year, marking a dramatic decline from the 21.70% growth rate recorded in October 2025.

This decrease in non-oil exports highlights the challenges facing Singapore's trade-dependent economy amid global economic uncertainties. The substantial contraction against the previous month indicates pressure on export sectors that have been pivotal in sustaining Singapore's economic performance.

Market analysts suggest that this downturn might be attributed to several external factors, including fluctuating demand from key trading partners and shifts in the global market landscape. As the nation navigates these headwinds, the Singaporean government and businesses may need to explore diversified and resilient strategies to stabilize their export revenues and sustain economic growth.