Review of 2Q 2025 Trade Performance

First published 12 Aug 2025 / Last updated 12 Aug 2025

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: Review of 2Q 2025 Trade Performance

MR No.: 031/25

Singapore, Tuesday, 12 August 2025

Highlights

NODX

• Grew by 7.1% in 2Q 2025, extending the 3.3% growth in 1Q 2025.

NORX

• Expanded by 24.9% in 2Q 2025, following the 8.2% increase in the previous quarter.

Total Merchandise Trade

• Rose by 7.1% in 2Q 2025, following the 4.8% increase in 1Q 2025.

2025 NODX Forecast

• Maintained at “+1.0% to +3.0%” in 2025, with lower bound of forecast building in a weaker 2H 2025 profile. Continued economic uncertainty amidst the evolving tariff situation could dampen demand from key trading partners. Meanwhile, sector-specific tariff risks remain.

Total Services Trade

• Grew by 1.7% in 2Q 2025, following the 3.8% increase in 1Q 2025.

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Click here for infographic on the key statistics.