Singapore economy

Singapore’s 3Q2024 GDP growth was revised upwards to 5.4% y-o-y.

On a y-o-y basis, NODX grew by 9.2%, after the 6.5% decrease in the previous quarter.

During the month, Singapore’s NODX fell by 4.6% y-o-y and 7.6% on a m-o-m seasonally adjusted basis.

The easing in global financial conditions is another factor for Singapore's sustained growth in 2024. The central bank kept the prevailing rate of appreciation of the $SNEER unchanged in October.

Hong Kong’s score of 8.58 edged out Singapore’s 8.55, according to the Fraser Institute’s latest Economic Freedom of the World report, covering 2022.

South Korea was Singapore's eighth largest trading partner in 2023, with total trade amounting to over $62 billion.

Chew notes that although the STI was on course to make a 17-year high with significant stock market volumes, there has been nostalgia over the bull markets of the 90s and the lead-up to 2007’s peak.

RHB’s forecast for Singapore’s full-year growth has remained unchanged at 2.5%.

Chew sees Singapore's IPO market to enter its darkest hour yet.

Chew says that the key factor for Singapore's market ecosystem revival hinges on sustainable institutional demand.