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Singaporean non-oil domestic export sales likely to have rebounded in December

Singapore’s non-oil domestic export sales data for December is set to release tomorrow. According to a DBS Bank research report, the non-oil domestic export sales are likely to have rebounded to a rise of 2.1 percent year-on-year, from a fall of 2.6 percent previously. Some front-loading of orders ahead of the upcoming Lunar New Year by manufacturers in China might be seen in the number.

Electronics exports are likely to have seen their first month of growth in the last 12 months. Pharmaceutical exports might surprise on the upside after a month of lull in November. Nevertheless, the trend is still down with risk of a sequential fall.

“This stems largely from an ongoing deceleration in China, with additional drag from the trade tensions between China and the US. Overall export outlook is gradually dimming”, added DBS Bank.

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