FX.co ★ Singapore’s Non-Oil Exports Accelerate to 9.3% YoY in January, Extending Year-End Momentum

Singapore’s non-oil domestic exports (NODX) strengthened at the start of 2026, with year-on-year growth rising to 9.30% in January, up from 6.10% in December 2025. The latest data, updated on 16 February 2026, indicate a continued recovery in external demand following last year’s softer trade conditions.

The figures are based on year-over-year comparisons, with the current reading reflecting the change in exports in January 2026 versus January a year earlier, while the previous figure captured December 2025 performance against the same month a year before. The acceleration from December to January suggests that Singapore’s export sector entered the new year on firmer footing, potentially underpinning broader economic activity if the trend persists.

Market participants will be watching subsequent releases closely to assess whether the stronger non-oil export growth can be sustained, particularly amid shifting global trade dynamics and ongoing uncertainties in major destination markets.