Trade fared better in Q2, but is still down
Trade and NODX forecasts for 2016 revised to contraction of 6-7 per cent and 3-4 per cent respectively
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SINGAPORE'S external trade in goods put on a better showing in the second quarter than in the first, though it was still largely in negative growth territory in year-on-year terms.
International Enterprise (IE) Singapore has thus lifted its 2016 growth forecasts for total trade and for non-oil domestic exports (NODX). Total trade, forecast earlier at between -8 and -6 per cent, is now expected to come in at -7 to -6 per cent.
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