Export, trade growth eases in Q2; full-year growth forecast up
Singapore's non-oil domestic exports to all top 10 markets rise, except for EU, Hong Kong and US
Singapore
GROWTH in Singapore's non-oil domestic exports (NODX) and total merchandise trade eased in the second quarter of this year but their performances so far are still better than expected, prompting the government to raise the full-year growth forecasts for both exports and trade.
NODX grew 2.7 per cent year on year in Q2 2017, slowing sharply from 15.3 per cent in the previous quarter, official figures released on Friday showed. Total trade in Q2 jumped 9.5 per cent, against 16.4 per cent in the first quarter. The latest full-year growth forecast for NODX is 5-6 per cent, up from the earlier 4-6 per cent. Total trade is tipped to increase 6-7 per cent, up from 5-7 per cent forecast previously.
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