What will keep Singapore export stuck in the doldrums?

The next months will be tough as Singapore faces global headwinds.

With the purchasing managers’ indices of key markets turning south rather than northward, a flat or even disappointing growth in Singapore exports could stay for a while.

According to a report by DBS, some of the global issues could further put pressures on the city-state's exports.

"Indeed, nothing has changed in the external environment to warrant an improvement at this juncture," DBS said.

The report cited the slowdown in China as the main concern, as well as the snail-pace growth in the United States.

"Sluggish growth in the US, combined with the risks of a rate hike by the Federal Reserve and the upcoming US election, will continue to weigh on the global outlook," the report stated.

"You have a potent mix of downside risks to export performance and growth," DBS claimed, pointing out that the uncertainties surrounding a post Brexit Eurozone would likely put downward pressures.

DBS noted that the next few months will be rough for any export-dependent economy, including Singapore.

To recall, Singapore non-oil domestic exports (NODX) decreased by 1.9% in August, following the previous month's same pace of decline.

On YoY basis, NODX registered a flat growth in August, rebounding from a sharp 10.6% decline in July.

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