Forecasts raised after big jumps in NODX and trade growth

Singapore

NON-oil domestic exports jumped 9.4 per cent year on year in the second quarter, up from 1.1 per cent in the first, driving government planners to raise the NODX's full-year growth forecast from 1-3 to 2.5-3.5 per cent.

Similarly, the projection for total merchandise trade growth in 2018 is upgraded from 3-5 to 5-6 per cent after a stronger showing that saw overall trade expanded 10.2 per cent in April-June - against 2.5 per cent in the first three months of the year.

"Total trade and NODX performed better-than-expected in 2Q 2018, on the back of favourable …