SINGAPORE - Singapore’s key exports contracted in January amid the Lunar New Year period following two consecutive months of expansion in November and December 2024.

Non-oil domestic exports (Nodx) in January contracted by 2.1 per cent, following a 9 per cent increase in December and a 3.4 per cent growth in November, Enterprise Singapore (EnterpriseSG) said.

Key electronic shipments rose by 9.6 per cent in January, following an 18.6 per cent expansion in December 2024. 

Growth was underpinned by integrated circuits (14.6 per cent), personal computers (66.7 per cent) and disk media products (31.5 per cent).

Non-electronic Nodx declined by 4.8 per cent in January, after the 6.6 per cent growth in December 2024. Volatile pharmaceuticals, trailed by specialised machinery and miscellaneous manufactured articles, contributed the most to the drop. 

Nodx to Hong Kong, the United States and Taiwan grew in January, though shipments to China, Indonesia, the European Union, Thailand and Malaysia declined. 

Shipments to the United States rose by 27.8 per cent in January, following the 30.7 per cent growth in the preceding month, due to non-monetary gold, disk media products and medical apparatus.

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