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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Non-Oil Exports MoM climbed to 11.0% in April 2026
FMPMonthlyReleased May 2026
Singapore Non-Oil Exports MoM climbed to 11.0% in April 2026, released May 2026, up 8.0% from March's 3.0% reading.
Latest Release
11.000000
Actual
—
Consensus
3.000000
Previous
Median Absolute Error
±10.92 percentage points
across last 12 releases
Last Call
Jan 2026
Predicted: 1.2
Actual: -9.4
Error: +10.6
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| Nikkei 225 | ▲ Direct | +0.57 | INDEX | Bullish Nikkei 225 | → View |
| S&P 500 | ▲ Direct | +0.53 | INDEX | Bullish S&P 500 | → View |
| XAU/USD | ▲ Direct | +0.41 | COMMODITIES | Bullish XAU | → View |
| USD/SGD | ▼ Inverse | −0.34 | FOREX | Bearish USD | → View |
| Hang Seng | ▲ Direct | +0.34 | INDEX | Bullish Hang Seng | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Non-Oil Exports MoM (Singapore) was reported at 7.7% in June 2026. The reading fell from the previous value of 11%. Trailing 12-month context per ETL data through May 2026. Over the past 12 months, the indicator has averaged 2.06%, ranging from -12% to 14.3% across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 5.2%, up from the prior three at 2.23%. Volatility over the past year (σ 9.26%) is higher than the prior year (σ 7.06%). In May readings over the past 3 years, Non-Oil Exports MoM has averaged 9.67%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with Nikkei 225 (Bullish Nikkei 225). A secondary relationship exists with S&P 500, positively correlated (Bullish S&P 500). Over the last 12 releases, the Sigmacast model's median absolute error is 10.92%.
WHAT TO WATCH NEXT
The next release is scheduled for July 17, 2026. Same-country events in the next 14 days include CPI YoY (Jun 23).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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Non-Oil Exports MoM - SG
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About Non-Oil Exports MoM — Singapore
DEFINITION
Non-Oil Exports MoM (Month-over-Month) is a financial indicator that measures the change in the value of a country's exports, excluding oil and related products, from one month to the next. This indicator provides valuable insights into a country's trade performance and can be used to assess the strength of its non-oil export sector. It is a key metric for investors and policymakers in evaluating a country's economic growth and diversification efforts.
WHY THIS INDICATOR MATTERS
Trade-balance and tariff data inform exchange-rate fundamentals and feed directly into GDP via the net-exports channel. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 7.7 %. Prior reading (Apr 2026): 11 %. Before that (Mar 2026): 3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with Nikkei 225 (Bullish Nikkei 225, r=0.57) — a useful reference for index-focused traders.