, Singapore
Chart from ING.

Chart of the day: Slowing China exports drags Singapore’s growth 

Export to China has contracted to translate to a slowdown in Singapore’s own growth.

This chart from ING shows the monthly exports to China from July 2020 to July 2022, showing a slowdown in growth momentum.

Several data reports have shown that China’s economy slowed by 4% year-on-year (YoY), down from a previous estimate of 4.4% 

ALSO READ: Economists raise full-year headline inflation forecast to 5.5% to 5.9%: survey

ING predicts that China’s projected slowdown will likely weigh on Singapore’s overall growth prospects in the near term.

“Exports to China have already contracted and softer demand from Singapore’s largest export destination has already translated to slowing manufacturing, particularly in the all-important electronics cluster of industrial production. Slowing growth for China caps Singapore’s growth prospects in the coming months with the trend of slower exports and weaker industrial production for Singapore likely to continue,” ING said.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

DBS and OCBC expected to deliver steady Q1 net profits
Their net interest margins will ease as a result of their Hong Kong loans.
Singapore's maritime cluster navigates towards digital, green future
Adapting to emerging challenges, such as the adoption of alternative fuels, is deemed crucial for the country's maritime sector.
Shipping & Marine
SCG and A*STAR unveil joint labs for cellular immunotherapy enhancement
The partnership has a funding of nearly $30m supported under Singapore's Research, Innovation and Enterprise 2025 plan.