Singapore's non-oil domestic exports, a key indicator of the health of its trade-reliant economy, fell for the sixth straight month in March.
SINGAPORE: Singapore’s key exports have fallen for six straight months and economists are not expecting a turnaround anytime soon.8.3 per cent year-on-yearAlthough this was the smallest decline in recent months and when compared on a seasonally adjusted monthly basis, exports were in fact up 18.4 per cent, economists saw little optimism.
As a result, Singapore’s electronics exports, such as integrated circuits, disk media products and personal computer parts, have turned negative since August 2020. As countries push on with tight monetary policies to battle high inflation and vulnerabilities surface in the financial system, global demand will likely stay weak, economists said.
“China’s demand for intermediate products remains weak, as implied by the worsening exports to China from South Korea, Taiwan and Vietnam,” said Maybank economists Chua Hak Bin and Lee Ju Ye.
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