Exports to grow 5.4% in January
Tech exports are expected to drive a turnaround.
Singapore’s exports likely improved in January and rose 5.4% YoY, following December's weaker than expected 3.1% YoY, Moody’s Analytics said.
According to a forecast, the main driver of the turnaround will be tech exports, expected to improve from their three-month low of 5.3% YoY in December.
The sustained upswing in the global tech cycle was a key support to the economy in 2017, driving a generally solid manufacturing and export performance.
Although overseas economic conditions are likely to remain favourable in 2018, a high base from a year earlier is likely to inhibit export growth in the near term.