ESG cuts exports forecast range to 0 to -2% contraction following 6.4% Q1 drop

Singapore

THE official non-oil domestic export growth forecast for this year has been trimmed - following a sharper drop in the NODX in the first three months of the year.

Enterprise Singapore (ESG), the government's trade promotion arm, now projects NODX to fall up to 2.0 per cent year-on-year in 2019, or stay flat at best - a downward tweak from the previous growth forecast of 0.0 to 2.0 per cent. NODX grew 4.2 per cent in 2018.