Singapore's annual exports fell for an 11th straight month in August as the trade-reliant economy continues to grapple with global headwinds on inflation and declining demand.
Singapore's non-oil domestic exports fell 20.1% year-on-year in August, official data showed on Monday, as both electronics and non-electronics exports to the United States, Europe and China declined.
"This does seem to suggest that any kind of stabilisation on exports doesn't seem to be on hand just yet," said Barclays economist Brian Tan. "Even if the growth is weak, inflation has been at a very uncomfortable level for us... it's really too soon to be relaxed about inflation, and MAS is going to stay relatively cautious," said Tan.
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