Singapore's key exports enjoyed a rebound in November, beating analyst expectations, as electronics shipments resumed a double-digit expansion.
This might be due to exporters front-loading their shipments before US President-elect Donald Trump's proposed tariffs kick in, experts said.
Non-oil domestic exports (Nodx) grew 3.4 per cent from a year ago, reversing a revised 4.7 per cent drop in October, according to figures released by trade agency Enterprise Singapore on Dec 17.
Analysts polled by Bloomberg had expected a 1 per cent fall in Nodx.
This also comes after Singapore in November again cut its 2024 full-year forecast for key export growth to around 1 per cent – down from August's estimate of 4 per cent to 5 per cent – due to a worse-than-expected recovery in the second half of 2024.
For 2025, Nodx is expected to grow by 1 per cent to 3 per cent.
DBS Bank economist Chua Han Teng said: "Singapore's positive Nodx performance could continue through the end of 2024 and into early 2025, potentially supported by near-term front-loading of shipments, as firms anticipate potentially higher tariffs under a second Trump presidency."
Maybank Investment Banking Group economist Brian Lee agreed that exports and manufacturing should remain resilient in the first half of 2025, boosted by the front-loading of orders.
هذه القصة مأخوذة من طبعة December 18, 2024 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 18, 2024 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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