Singapore's January exports fall 2.1% y/y, weaker than forecast

By Bing Hong Lok

SINGAPORE (Reuters) - Singapore's non-oil domestic exports fell 2.1% in January from the same month a year earlier, data on Monday showed, led by a drop in non-electronic exports.

The increase compared with a Reuters poll forecast of a drop of 1.1% and followed a 9.0% rise in December 2024.

Enterprise Singapore did not include details of the month-on-month seasonally adjusted change in exports in its statement.

Among major markets, non-oil domestic exports to Hong Kong, the United States and Taiwan rose in January from a year earlier, while they fell to China, the European Union and Indonesia, Enterprise Singapore said in a statement.

On Friday, Enterprise Singapore said it expected non-oil domestic exports to grow between 1% and 3% this year, but said significant uncertainties in the global economy could pose downside risks to that forecast.

(Reporting by Bing Hong Lok; Editing by John Mair)

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