Singapore exports likely to benefit from strong external outlook: economists

SINGAPORE'S exports stayed resilient in May despite tightened Covid-19 restrictions, and economists believe the Republic is likely to continue riding on the global trade recovery despite some uncertainty ahead.

Non-oil domestic exports (NODX) in May rose 8.8 per cent year on year, extending the previous month's 6 per cent rally, according to Enterprise Singapore (ESG) on Thursday.

It was a disappointment to private-sector economists, who had anticipated a 16 per cent year-on-year expansion, according to a Bloomberg poll, likely due to the low base from last May when Singapore was in a "circuit breaker" or partial lockdown.