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Singapore exports tipped to stay firm in 2022 despite global slowdown risks

Annabeth Leow
Published Fri, Jun 17, 2022 · 02:32 PM

SINGAPORE’S trade sector is expected to stay resilient in 2022, despite rising threats to external demand in key end-markets, economists indicated on Friday (Jun 17).

That’s as non-oil domestic exports (NODX) beat market forecasts in May to rise by 12.4 per cent year on year, which trade agency Enterprise Singapore (ESG) attributed to a year-ago low base.

Watchers noted that the NODX momentum is broad-based, even with Chinese growth crimped by coronavirus-related lockdowns and the United States risking recession amid red-hot inflation.

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