FX.co ★ Singapore’s Non-Oil Exports Rebound Into Positive Territory in January

Singapore’s non-oil domestic exports (NODX) returned to growth in January 2026, rising 0.70% month-over-month after a sharp 8.80% decline in December 2025, according to data updated on 16 February 2026.

The latest figure marks a notable turnaround from the previous month’s steep contraction, suggesting a stabilisation in export activity at the start of the year. On a month-over-month basis, the “Actual” January result is measured against December 2025, while the “Previous” December reading captured the change relative to November 2025.

The move back into positive territory, although modest, may indicate improving external demand or a normalization following December’s drop, and will be closely watched by markets for signs of sustained momentum in Singapore’s trade-driven economy.