NODX forecast readjusted downwards

[SINGAPORE] With non-oil domestic exports (NODX) and total trade faring worse than expected in the first nine months of the year, it is highly unlikely that they will hit the official growth targets for 2013.

In light of this, for the second time this year, International Enterprise (IE) Singapore has pared its year-on-year growth forecasts for NODX and total trade to between -5 and -4 per cent and 1-2 per cent, respectively.

The growth forecasts for NODX and total trade were a respective 2-4 per cent and 3-5 per cent originally. These were lowered to 0-1 per cent and 2-3 per cent respectively in August.