Looming high base not expected to deter rebound in Singapore's exports in 2021

SINGAPORE'S export sector handily beat official estimates in the first half of 2021, sparking forecast upgrades on Wednesday by trade agency Enterprise Singapore (ESG).

With non-oil domestic exports (NODX) now expected to grow by 7 per cent to 8 per cent year on year for the full year, Singapore is tipped to turn in its best showing since 2017.

The rosy outlook - a significant bump up from the 1 per cent to 3 per cent growth projected for NODX in May - came as trade forecasts were upgraded for the third time this year, in tandem with higher full-year gross domestic product (GDP) estimates.