新加坡海峡时报指数 (STI) 加自选

新加坡的非石油国内出口（NODX）在2025年7月同比下降4.6%，扭转了6月份向下修正的12.9%的激增。这是今年迄今为止的第三次下降，也是自2024年10月以来最大的收缩，主要是由于非电子产品出口下降，下降了6.6%（6月份为14.4%）。药品（-18.9%）、石化产品（-23.4%）和食品制剂（-26.3%）的大幅下跌领跌。受PC（80.4%）、IC（25.8%）和PCB（8.0%）强劲出货量的支撑，电子产品出口同比增长2.8%，明显低于6月份的8.0%。按市场划分，由于美国新征收的关税，运往美国的货物大幅下降（-42.7%），运往印度尼西亚（-32.2%）、泰国（-21.8%）、中国（-12.2%），马来西亚（-9.8%）和日本（-3.3%）的货物也有所下降。相比之下，出口到台湾（62.9%）、韩国（34.5%）和香港（20.8%）。按月计算，7月份NODX下降了6.0%，扭转了6月份下调后的14.2%的涨幅。

Singapore’s non-oil domestic exports (NODX) fell 4.6% year-on-year in July 2025, reversing a downwardly revised 12.9% surge in June. This marked the third decline so far this year and the steepest contraction since October 2024, primarily due to a drop in non-electronic exports, which declined 6.6% (vs 14.4% in June). The weakness was led by sharp falls in pharmaceuticals (-18.9%), petrochemicals (-23.4%), and food preparations (-26.3%). Electronic exports rose 2.8% yoy, slowing markedly from an 8.0% gain in June, supported by strong shipments of PCs (80.4%), ICs (25.8%), and PCBs (8.0%). By market, shipments plunged to the US (-42.7%)—weighed down by newly imposed American tariffs—and also fell to Indonesia (-32.2%), Thailand (-21.8%), China (-12.2%), Malaysia (-9.8%), and Japan (-3.3%). In contrast, exports rose to Taiwan (62.9%), South Korea (34.5%), and Hong Kong (20.8%). On a monthly basis, NODX declined 6.0% in July, reversing a downwardly revised 14.2% jump in June.

新加坡的经常账户盈余从2024年同期的320.7亿新元扩大到2025年第二季度的348亿新元。这一增长是由服务账户盈余增加推动的，服务账户盈余从2024年第二季度的123.5亿新元增至151.2亿新元，主要是由于制造业服务和旅游业表现强劲。此外，同期主要收入赤字从339.7亿新元缩小至311.6亿新元。然而，由于进口激增，商品账户盈余从554.1亿新元略微降至538.1亿新元。与此同时，次级收入赤字从17.3亿新元扩大到29.7亿新元。去年，该国经常账户盈余为1283亿新元。

Singapore’s current account surplus widened to SGD 34.80 billion in the second quarter of 2025, up from SGD 32.07 billion in the same period of 2024. The increase was driven by a higher services account surplus, which rose to SGD 15.12 billion from SGD 12.35 billion in Q2 2024, mainly due to stronger performance in manufacturing services and travel. Additionally, the primary income deficit narrowed to SGD 31.16 billion from SGD 33.97 billion over the same period. However, the goods account surplus decreased slightly to SGD 53.81 billion from SGD 55.41 billion, amid a surge in imports. Meanwhile, the secondary income deficit widened to SGD 2.97 billion from SGD 1.73 billion. Last year, the country registered a current account surplus of SGD128.30 billion.

新加坡经济在2025年第二季度同比增长4.4%，高于第一季度向上修正的4.1%，这是三个季度以来最慢的增速。最新读数略高于闪电估计的4.3%。制造业增速加快（第一季度为5.2%对4.7%），这得益于除化学品和一般制造业以外的所有集群的增长。此外，在该行业内广泛增长的情况下，服务业活动势头强劲（4.3%对3.8%），特别是批发和零售贸易、信息和通信以及住宿和餐饮服务。建筑产量增长更快（6.0%对4.9%），这得益于 公共部门和私营部门产出的扩张。季度GDP增长1.4%，从第一季度0.5%的下降中反弹。

Singapore’s economy grew 4.4% year-on-year in Q2 2025, up from an upwardly revised 4.1% in Q1, which was the slowest pace in three quarters. The latest reading slightly exceeded the flash estimate of 4.3%. The manufacturing sector quickened (5.2% vs 4.7% in Q1), driven by gains across all clusters, except for chemicals and general manufacturing. Also, services activity gained momentum (4.3% vs 3.8%), amid broad-based growth within the sector, notably wholesale and retail trade, information & communications, and accommodation & food services. Construction output increased at a faster rate (6.0% vs 4.9%), supported by expansions in both public sector and private sector output. Quarterly, GDP grew by 1.4%, rebounding from a 0.5% fall in Q1.

新加坡第二季度国内生产总值同比增长4.4%（预期为4.3%），环比增长1.4%。新加坡经济在第二季度同比增长4.4%，略高于此前4.3%的预期，在第一季度收缩0.5%后，季度环比增长1.4%。贸易和工业部将2025年GDP增长预测从0.0-2.0%上调至1.5-2.5%，理由是上半年表现强于预期。

Singapore Q2 GDP +4.4% y/y (vs. 4.3% expected) & +1.4% q/q.Singapore's economy expanded 4.4% year-on-year in Q2, slightly above the earlier 4.3% estimate, with quarter-on-quarter growth of 1.4% following a 0.5% contraction in Q1. The Ministry of Trade and Industry upgraded its 2025 GDP growth forecast to 1.5–2.5% from 0.0–2.0%, citing stronger-than-expected first-half performance.