Key exports fell 6.4 per cent in Q2 on the back of volatile pharmaceutical demand.
SINGAPORE - Singapore expects growth in key exports to come in at 4 per cent to 5 per cent in 2024 – the lower end of its forecast range of 4 per cent to 6 per cent.
The trade agency noted that the International Monetary Fund projected that global economy would grow by 3.2 per cent in 2024. Personal computers, integrated circuits and other computer peripherals contributed the most to the growth in electronic shipments. Integrated circuits, or semiconductors, which formed about half of electronic Nodx, grew by $300 million, the second quarter of growth after six straight quarters of decline.
Enterprise Singapore said that the outlook of total trade remains “cautiously optimistic” with support from high oil prices.
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