Singapore’s export growth in coming months likely to be dragged down by China’s slowdown: economists

SINGAPORE’S export growth could continue to ease in the coming months, with global headwinds likely to dampen external demand even as Asean’s reopening offers a silver lining, said economists.

Already, non-oil domestic exports (NODX) growth in April eased for the fifth straight month to 6.4 per cent year on year, according to data from Enterprise Singapore on Tuesday (May 17), a result that was largely in line with the 6.5 per cent growth that private-sector economists polled by Bloomberg were expecting. Exports in March grew 7.7 per cent.

Shipments of electronic products extended the previous month’s gains with a 12.8 per cent year-on-year growth in April, while non-electronic exports in the same month slowed to 4.6 per cent.