Singapore’s non-oil domestic exports (NODX) showed a marked month-on-month improvement in July 2026, easing to a marginal decline of 0.30% from a steep 8.80% drop in June 2026. The latest figures, updated on 17 August 2026, indicate that while exports are still slightly contracting, the pace of decline has narrowed significantly.
On a month-over-month basis, July’s performance reflects a stabilisation in export activity after the sharp fall recorded in June. The “actual” July reading of -0.30% compares to the “previous” June reading of -8.80%, which itself measured the change from May to June 2026. This turnaround suggests that the worst of the recent pullback in non-oil exports may be easing, even if a clear return to growth has yet to materialise.
Analysts and market participants will now watch upcoming data closely to determine whether July’s moderation in the decline is the start of a sustained improvement in Singapore’s non-oil export momentum, a key barometer of the city-state’s external demand and trade-driven outlook.