Singapore's External Trade – February 2023

In February 2023, there were significant changes in NODX, NORX, and total trade.

The NODX decreased by 15.6%, following a 25.0% decline in January 2023, with both electronics and non-electronics experiencing a decline. The decline in NODX was mainly due to the EU 27, Hong Kong, and Taiwan, although there was an increase in NODX to the US, Japan, and Thailand.

On the other hand, the NORX increased by 1.1% in February 2023, after a 10.4% decline in January 2023. While electronics decreased, non-electronics rose.

Finally, the total trade decreased in February 2023, with both exports and imports experiencing a decline.

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<Source> Enterprise Singapore