Singapore's non-oil domestic exports seen growing between 1-3% next year: IE

SINGAPORE'S non-oil domestic exports for 2015 are tipped to move into positive terrain, growing between 1.0 and 3.0 per cent year on year, up from a revised forecast of 1.0-1.5 per cent dip this year, according to trade promotion agency International Enterprise Singapore.

Earlier growth projection for the NODX was a 1.0-2.0 drop for 2014.

Overall trade for 2015 is projected to grow moderately by between zero and 2.0 per cent from between 1.5 and 2.0 per cent this year.

The NODX grew 1.1 per cent in the third quarter, after two straight quarters of decline, according to IE Singapore. Total trade fell by 3.5 per cent in the third quarter, against a 2.9 per cent rise in the second quarter.

Non-oil re-exports also dropped 1.0 per cent in the third quarter following a 2.9 per cent increase in the second quarter.