Singapore expects growth in key exports to come in at the lower end of its 4 per cent to 6 per cent growth forecast in 2024 due to a disappointing start to the year.
Non-oil domestic exports (Nodx) fell 3.4 per cent to around $42 billion in the first quarter of 2024 on the back of volatile pharmaceutical demand, following a 1.4 per cent decline in the previous quarter.
"Given the worse-than-expected first-quarter performance, there are downside risks to the Nodx forecast, which could come at the lower range of the 4 per cent to 6 per cent forecast," Enterprise Singapore said on May 23.
However, support is still expected from a recovery in electronics demand in the second half of 2024, it added. This will be driven by demand for consumer devices and artificial intelligence servers, among others.
Enterprise Singapore noted that the International Monetary Fund had projected that global economic activity would grow by 3.2 per cent in 2024.
Most of Singapore's key trade partners, including China, the United States, Europe and Asean, are projected to grow in 2024.
Diese Geschichte stammt aus der May 24, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 24, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Malfunctioning component among reasons for N-S Line disruption: LTA
A component meant to protect outdoor equipment from power surges, like those from lightning strikes, did not work as intended on June 3, resulting in a traction power fault that disrupted commutes along the northern stretch of the North-South MRT Line for more than two hours during evening peak hours.
WHO warns of escalating health crisis in West Bank
Attacks on health infrastructure, growing restrictions obstructing access to care
Young and old bond over dialect lessons at senior daycare centre
Programme brings sense of purpose to seniors, helps kids develop social skills
Inspiring, strong, loving: Dads show it their way
This Father’s Day, meet four emotionally involved fathers who show true dad-ication
World leaders join peace summit in test of Kyiv's diplomatic clout
Absence of Moscow's powerful allies such as China set to blunt potential impact of talks
Cleanup under way after oil slicks hit Sentosa, East Coast Park and other areas
Oil slicks stained the coastlines at East Coast Park, Labrador Nature Reserve, Keppel Bay, the Southern Islands and Sentosa on June 15, a day after a damaged cargo tank leaked oil into the sea at Pasir Panjang Terminal.
PM Wong kick-starts series of visits to districts across S'pore
A month after being sworn in to the top post, Prime Minister Lawrence Wong says he plans to visit different constituencies across the island over the coming months to meet as many Singaporeans as he can.
ANYWHERE FITNESS
Experts say daily exercise of at least 20 minutes is best for a healthier mind and body for all ages. Here’s how to get ina workout without going to a gym
MAD ABOUT INDIAN MANGOES
Taste these seven varieties here before the season is over
NTU marketing professor introduced as new face in Tampines East
A new grassroots leader for the Tampines East ward of Tampines GRC was introduced to residents by anchor minister Masagos Zulkifli on June 15.
