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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Non-Oil Exports MoM fell to -8.9% in June 2026
FMPMonthlyReleased July 2026
Singapore Non-Oil Exports MoM fell to -8.9% in June 2026, released July 2026, down 16.6% from May's 7.7% reading. The reading missed the 2.1% consensus by 11.0%.
Latest Release
-8.900000
Actual
2.100000
Consensus
7.700000
Previous
Median Absolute Error
±11.12 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 2.1
Actual: -8.9
Error: +11
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| Nikkei 225 | ▲ Direct | +0.49 | INDEX | Moves with | → View |
| XAU/USD | ▲ Direct | +0.42 | COMMODITIES | Moves with | → View |
| USD/SGD | ▼ Inverse | −0.36 | FOREX | Moves against | → View |
| S&P 500 | ▲ Direct | +0.33 | INDEX | Moves with | → 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 -8.9% in July 2026. This missed the market consensus of 2.1% by 11%. The reading fell from the previous value of 7.7%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 1.75%, ranging from -9.4% to 13% across 11 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 3.27%, up from the prior three at -1.6%. Volatility over the past year (σ 8.24%) is comparable than the prior year (σ 8.84%). In July readings over the past 3 years, Non-Oil Exports MoM has averaged 1.67%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with Nikkei 225 (Bullish Nikkei 225). A secondary relationship exists with XAU/USD, positively correlated (Bullish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 11.12%.
WHAT TO WATCH NEXT
The next release is scheduled for August 18, 2026.
Auto-generated from current model state · Refreshes on each release · Last update July 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 (Jun 2026): actual -8.9 %, consensus 2.1 %. Prior reading (May 2026): 7.7 %. Before that (Apr 2026): 11 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish 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=0.49) — a useful reference for index-focused traders.
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Economic Calendar - SG Events
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 02:00 | SG | Bank Lending | 931.4 | 917.7 | 884.1 | 907.75 | Low |
| 02:30 | SG | Unemployment Rate | 2 | 2 | 2.1 | 2.05 | Low |
| 05:00 | SG | Business Confidence | 12 | 17 | 5 | 8.50 | Low |