South Korea Warns Weak Won Could Push Inflation Higher in 2025 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Singapore’s non-oil domestic exports (NODX) jumped 12.4% year-on-year in April 2025, far surpassing analysts’ expectations of a 4.3% increase, according to data released by Enterprise Singapore. This marks a strong rebound from March’s 5.4% gain and signals resilience in the trade-dependent economy despite rising global uncertainty.
The strong performance was attributed to a broad-based rise in both electronics and non-electronics shipments. Economists suggest the export surge may reflect front-loading by global buyers amid concerns over escalating trade tensions and tariff risks, especially following the U.S. administration’s recent tariff policies under President Donald Trump. Electronics, notably exempt from some of the tariffs, appear to have benefited from this window of opportunity.
OCBC Bank’s chief economist Selena Ling noted that buyers could be advancing orders to avoid potential disruptions, taking advantage of a temporary reprieve offered by a 90-day suspension of reciprocal tariffs and ongoing trade negotiations. However, she warned of possible softening in shipments to the U.S., particularly in electronics, if tensions persist.
Exports rose to key partners including the U.S., Japan, Taiwan, South Korea, Hong Kong, Indonesia, and Thailand. However, shipments to Malaysia and China declined, highlighting uneven trade dynamics in the region.
Despite the positive April data, Singapore’s outlook remains cautious. The government recently downgraded its 2025 GDP growth forecast to a range of 0% to 2%, from 1% to 3% previously. Authorities also launched an ‘economic resilience’ taskforce to mitigate risks from prolonged trade disruptions. Given Singapore’s high trade-to-GDP ratio, the city-state is widely seen as a barometer for global economic health.
No month-on-month seasonally adjusted export figures were released in the latest report.
