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Economic
Research
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20 February 2017
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Singapore
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Economic
Update
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Singapore’s NODX grew 8.6%
YoY in January, slowing from a 9.1% bounce in the month before, but remaining
very robust nonetheless. The strong performance in January was helped by a
low base effect and a bottleneck in demand for semiconductors.
Going forward, we project for non-oil domestic exports (NODX) to
expand 2% in 2017, rebounding from a 3.2% drop last year. This is underpinned
by:
i. Simultaneous
fiscal stimulus from developed nations;
ii. Consolidating US economic
recovery;
iii. Stabilising
growth in China;
iv. Improving
commodity prices, which ought to aid in the economic recoveries of the
regional trading peers.
Economist: Ng Kee Chou
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Monday, February 20, 2017
Exports To Benefit From Synchronised Fiscal Easing
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