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Singapore electronics tipped to stay positive in 2022 despite slower exports growth

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Annabeth Leow

Annabeth Leow

Published Mon, Jul 18, 2022 · 06:12 PM
    • Cleanroom technicians at a Globalfoundries semiconductor fabrication facility in Singapore. HSBC economist Yun Liu said demand for chips “appears to be holding up” even with a decline in consumer electronics.
    • Cleanroom technicians at a Globalfoundries semiconductor fabrication facility in Singapore. HSBC economist Yun Liu said demand for chips “appears to be holding up” even with a decline in consumer electronics. PHOTO: BLOOMBERG

    EXPORTS from Singapore’s linchpin electronics industry slowed in June, even as analysts warned of cooling economic growth and rising risks to global trade.

    But the electronics cluster is not likely to hit a downturn yet, watchers believe, with the trade sector tipped to stay positive through the rest of 2022 despite headwinds in the year ahead.

    Headline non-oil domestic exports (NODX) still came in ahead of expectations to expand by 9 per cent year on year in June, despite growth easing from 12.0 per cent in the month before, according to figures from trade agency Enterprise Singapore (ESG) out on Monday (Jul 18).

    Singapore economySingapore NodxTradeSingapore electronics

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