Summary
- Singapore’s key exports growth in 2024 may be at the lower end of the 4 to 6 percent forecast
- Non-oil domestic exports declined by 3.4 percent in the first quarter, driven by non-electronics
- Total merchandise trade grew by 4.8 percent in the first quarter, a reversal from previous declines
- GDP growth forecast for Singapore remains at 1 to 3 percent for the year
