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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Non-Oil Exports MoM climbed to 25.5% in September 2026
FMPMonthlyReleased October 2026
Singapore Non-Oil Exports MoM climbed to 25.5% in September 2026, released October 2026, up 14.7% from August's 10.8% reading. The print exceeded the 5.2% consensus by 20.3%.
Latest Release
25.500000
Actual
5.200000
Consensus
10.800000
Previous
Median Absolute Error
±11.12 percentage points
across last 12 releases
Last Call
Oct 2026
Predicted: 5.2
Actual: 25.5
Error: -20.3
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 |
|---|---|---|---|---|---|
| USD/SGD | ▼ Inverse | −0.49 | FOREX | Moves against | → View |
| Nikkei 225 | ▲ Direct | +0.48 | INDEX | Moves with | → View |
| S&P 500 | ▲ Direct | +0.37 | 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 25.5% in October 2026. This beat the market consensus of 5.2% by 20.3%. The reading rose from the previous value of 10.8%. Trailing 12-month context per ETL data through October 2026. Over the past 12 months, the indicator has averaged 5.2%, ranging from -9.4% to 25.5% across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 12.03%, up from the prior three at 3.27%. Volatility over the past year (σ 9.38%) is comparable than the prior year (σ 9.48%). In October readings over the past 3 years, Non-Oil Exports MoM has averaged 13.2%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/SGD (Bearish USD). A secondary relationship exists with Nikkei 225, positively correlated (Bullish Nikkei 225). 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 November 17, 2026.
Auto-generated from current model state · Refreshes on each release · Last update October 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 (Sep 2026): actual 25.5 %, consensus 5.2 %. Prior reading (Aug 2026): 10.9 %. Before that (Jul 2026): -0.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher 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 tailwind in the current projection. This indicator correlates most strongly with USD/SGD (Bearish USD, r=-0.49) — a useful reference for forex-focused traders.
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Economic Calendar - SG Events
| Friday, October 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 02:00 | SG | Bank Lending | 978.8 | 966.4 | 909.5 | 944.15 | Low |
| 02:30 | SG | Unemployment Rate | 2 | 1.9 | 2 | 2.00 | Low |
| Monday, November 2, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 05:00 | SG | Business Confidence | 12 | 14 | 14.00 | Low | |
| 13:00 | SG | S&P Global Manufacturing PMI | 51.7 | 51.8 | 51.80 | Low | |