Singapore’s non-oil domestic exports (NODX) rose 4.0% yoy in February 2026, easing from a marginally revised 9.2% gain in the prior month and falling short of market expectations of 4.9%. This marked the sixth straight month of expansion, but the slowest in the streak, partly reflecting distortions from the Lunar New Year period. Electronics exports remained a key driver, though growth moderated to 43.2% (vs 56.1%), supported by ICs (51.2%), disk media products (96.3%), and PCs (22.9%). In contrast, non-electronic NODX contracted more sharply at -6.9% (vs 3.1%), weighed down by declines in non-monetary gold (-27.4%), food preparations (-51.2%), and petrochemicals (-28.5%). By destination, shipments increased to South Korea (50.5%), Taiwan (31.1%), Hong Kong (21.7%), the EU (7.7%), and Malaysia (5.5%). However, exports fell to China (-1.5%), the U.S. (-44.8%), India (-15.1%), and Indonesia (-24.7%). Monthly, NODX grew 3.9%, accelerating from a marginally revised 0.6% rise in January.