“We maintain our view that Singapore’s non-oil domestic exports (NODX) will remain weak in the first half as trade and PMI indicators across the region continue to flash red, especially for China, South Korea and Taiwan,” says Maybank analyst Chua Hak Bin.
SINGAPORE (Mar 20): Singapore’s exports recovered in February following three straight months of decline but Maybank Kim Eng thinks it is still too soon to call this an inflection point.
However, there are clear signs of rising FDI in manufacturing across Asean as companies look to relocate and diversify their production network and Singapore may benefit from higher manufacturing capacity and exports in the neighborhood.
