Singapore’s exports look set to expand in the first quarter of this year, according to a new trade barometer developed by Standard Chartered Bank which provides a one-quarter forward projection of the country’s export performance.The Standard Chartered Trade Barometer (SCTB) uses a combination of in-house trade finance data with publicly available information.
Singapore has been chosen as the first country to launch the bank’s leading trade indicator.
In its report, Stanchart says Singapore was chosen because it is one of the largest trading countries and most open economies in the world.
It adds that Singapore’s net exports have increased their contribution to GDP growth over the past five years and the SCTB will be a useful indicator to guide expectations for growth.