Singapore’s non-oil domestic exports (NODX) fell 4.6% year-on-year in July 2025, reversing a downwardly revised 12.9% surge in June. This marked the third decline so far this year and the steepest contraction since October 2024, primarily due to a drop in non-electronic exports, which declined 6.6% (vs 14.4% in June). The weakness was led by sharp falls in pharmaceuticals (-18.9%), petrochemicals (-23.4%), and food preparations (-26.3%). Electronic exports rose 2.8% yoy, slowing markedly from an 8.0% gain in June, supported by strong shipments of PCs (80.4%), ICs (25.8%), and PCBs (8.0%). By market, shipments plunged to the US (-42.7%) - weighed down by newly imposed American tariffs - and also fell to Indonesia (-32.2%), Thailand (-21.8%), China (-12.2%), Malaysia (-9.8%), and Japan (-3.3%). In contrast, exports rose to Taiwan (62.9%), South Korea (34.5%), and Hong Kong (20.8%). On a monthly basis, NODX declined 6.0% in July, reversing a downwardly revised 14.2% jump in June.