IE upgrades 2018 NODX forecast on 2017 rebound

Singapore

SINGAPORE'S trade forecast for 2018 has been upgraded, after a turnaround in 2017 which saw non-oil domestic exports (NODX) growing at the fastest pace in seven years.

NODX growth was 8.8 per cent in 2017, a stark reversal of the 2.8 per cent decline in 2016.

This was the fastest growth since 2010, also beating trade promotion agency International Enterprise (IE) Singapore's earlier prediction of 6.5 per cent to 7 per cent.

Trade growth is expected to be firm this year, though there could be moderation from 2017's rapid pace, IE Singapore said in its Review of 2017 Trade Performance on Wednesday. It now predicts NODX growth of 1 per cent to 3 per cent in the coming …