FX.co ★ Singapore's Non-Oil Exports See Significant Drop in November

Singapore's economic landscape faced a concerning shift as non-oil domestic exports (NODX) experienced a substantial decline for the month of November 2025. According to the latest data updated on December 17, 2025, the NODX registered a decrease, reaching 6.80%, down from the 9.30% recorded in October of the same year.

This marks a notable downturn when considering the month-over-month comparison, which highlights the changing dynamics in Singapore's export economy. The previous month had seen slightly stronger performance as exports grew by 9.30% from September to October. However, this downward trend in the NODX from October to November could signal challenges ahead for the trade-reliant nation.

Industry analysts suggest that varying global market conditions and fluctuating demand across key sectors may have contributed to this decline. As Singapore navigates these economic pressures, stakeholders remain attentive to future changes in international markets and their potential impact on one of Asia's major trading hubs. The coming months will be crucial in determining whether this dip in exports is a temporary setback or a sign of more significant adjustments on the horizon for Singapore's economy.