Chart of the Day: Singapore's export performance has been strong in recent months

But is it sustainable?

Singapore's non-oil domestic exports (NODX) have picked up in recent months, recording strong double-digit growth.

According to Standard Chartered, the oil and chip prices and higher demand for electronics exports along the electronics supply chain may have driven the recent performance.

However, the pick-up in electronics exports is not broad-based – ICs and PC parts were key drivers, while demand for other components was soft. Meanwhile, import volumes of major economies contracted in 2016 and could weigh on Singapore’s export value growth in 2017.

"Export growth could ease as the low commodity price base effect tapers off in H2-2017. We expect strong export performance in 1H17, but a slowdown in export growth in 2H17," SC said.