Analysts upgrade Singapore export, growth forecasts on robust March trade data

JUST one quarter in, economy watchers are upgrading an-already bullish export outlook for Singapore, as non-oil domestic exports (NODX) blew past expectations in March.

The trade sector's latest showing is also tipped to lift Singapore's gross domestic product (GDP) recovery.

NODX growth should stay robust in the months ahead, said Nomura economists Euben Paracuelles and Charnon Boonnuch, who think that Singapore will beat the rest of Asean to reach pre-pandemic levels this quarter: "Nomura's leading index of Asia exports also points to NODX growth increasing further in Q2."

That's as NODX surged by 12.1 per cent year on year in March, according to figures released by trade agency Enterprise Singapore...


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