Singapore's Dec exports rise 9% on-year but 2024 NODX growth below govt forecast
Singapore's exports expanded 0.2% for the full year in 2024, below the 1% forecast by Enterprise Singapore. Analysts said this was dragged down by a stronger Singdollar, which made exports more expensive, along with volatility in certain sectors like pharmaceuticals. For December, exports rose 9% on-year, up from 3.4% the previous month. Â Growth mainly came from non-electronics sectors like specialised machinery, food preparation and non-monetary gold. Electronics exports also expanded nearly 19%, driven by strong demand for personal computers and disk media products. Nadirah Zaidi reports.
Singapore's exports expanded 0.2% for the full year in 2024, below the 1% forecast by Enterprise Singapore. Analysts said this was dragged down by a stronger Singdollar, which made exports more expensive, along with volatility in certain sectors like pharmaceuticals. For December, exports rose 9% on-year, up from 3.4% the previous month. Â Growth mainly came from non-electronics sectors like specialised machinery, food preparation and non-monetary gold. Electronics exports also expanded nearly 19%, driven by strong demand for personal computers and disk media products. Nadirah Zaidi reports.