Singapore Non-oil Domestic Exports (NODX) for July 2023

-3.4% m/m

  • expected +1%, prior +5.4%

-20.2% y/y

  • expected -14.4%, prior -15.5%


Singapore Non-oil Domestic Exports (NODX) measures the value of goods exported from Singapore excluding oil and petroleum products.

Singapore is heavily reliant reliance on international trade. It's a small and open economy where exports play a significant role in driving economic growth and employment.

Statement from Monetary Authority of Singapore over the weekend after the government in SG raised it