Singapore November Exports Jumped 11.6%
By Reuters | 16 Dec, 2025

AI-related demand from the US, EU and Taiwan helped boost exports far beyond the 7% forecast after a 21.7% jump in October.

Singapore's non-oil domestic exports rose by 11.6% in November from the same month a year earlier, government data showed on Wednesday, led primarily by pharmaceuticals and supported by electronic products, such as integrated circuits and PCs. 

The export growth compared with a Reuters poll forecast of a 7.0% increase, and followed a revised rise of 21.7% in October. 

Among key markets, exports to the U.S., European Union and Taiwan rose strongly, while shipments to Thailand and Japan were markedly lower than a year earlier, Enterprise Singapore said.

In November, Enterprise Singapore narrowed its 2025 non-oil domestic exports growth forecast to "around 2.5%" from growth of 1% to 3%, as it expected robust AI-related demand and high gold prices to provide some support to shipments in the fourth quarter.

The Trade Ministry expects GDP growth to be "around 4.0%" this year.

(Reporting by Jun Yuan Yong; Editing by John Mair)