Singapore exports to post more modest growth in 2022 after cresting a decade high

SINGAPORE'S export growth is expected to moderate this year, after the trade sector expanded at its fastest clip in a decade last year.

Besides the high base effect, the world economy faces downgrades to its growth outlook on the spread of the Omicron strain of the novel coronavirus, trade agency Enterprise Singapore (ESG) warned.

Still, the outlook remains positive, with ESG on Thursday (Feb 17) holding to its forecast for non-oil domestic exports (NODX) to rise by 0 to 2 per cent year on year in 2022, having starting the year with growth of 17.6 per cent in January.