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UOB ups Singapore's 2022 NODX growth forecast to 5%; other analysts retain GDP, NODX estimates

Felicia Tan
Felicia Tan6/20/2022 01:31 PM GMT+08  • 4 min read
UOB ups Singapore's 2022 NODX growth forecast to 5%; other analysts retain GDP, NODX estimates
Singapore's CBD. Photo: Bloomberg
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UOB’s senior economist Alvin Liew has raised his full-year growth forecast for Singapore’s non-oil domestic exports (NODX) to 5% for 2022, from his previous forecast of 2.0%.

The revised forecast is at the top end of Enterprise Singapore’s (ESG) projection of a 3% to 5% growth for the year, which was upgraded from 0.0% to 2.0% on May 25.

Liew’s upgrade comes after Singapore’s May NODX rose 12.4% y-o-y, higher than the market forecast of a 7.5% y-o-y growth.

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