KUALA LUMPUR (Reuters) - Singapore’s non-oil domestic exports were expected to recover in April after a two consecutive months of decline, a Reuters poll found on Monday.
Non-oil domestic exports were expected to have risen 5.4 percent in April from a year earlier, according to the median forecast in the survey of 10 economists.
The upturn was seen likely to come from exports of the city-state’s tech products.
“Tech demand is the main driver of Singapore’s export
performance,” Moody’s said in a research note to clients, warning of the “downside risk” from a U.S.-China trade dispute affecting Singapore’s export outlook.
“Singapore is at the whim of global demand,” Moody’s said.
Booming demand has benefited Singapore and other trade-dependent Asian economies in the past year, particularly makers of electronics products and components such as semiconductors, but growth has started to moderate this year.
On a seasonally adjusted basis, non-oil domestic exports were seen down 0.2 percent from March, the poll found, which would be the third consecutive monthly decline.
In March Singapore’s exports fell both year-on-year and month-on-month, by 2.7 percent and 1.8 percent respectively.
Reporting by Fathin Ungku; Editing by Eric Meijer