14 AUG 2017: Economy and SME Financing News
According to the latest trade data report by IE Singapore, Non-oil Domestic Exports (NODX) continued its y-o-y growth trend in 2Q 2017. However, the rate of growth sharply decelerated from 15.3% to 2.7%. Correspondingly, the overall trade growth (total merchandise trade) also eased from 16.4% to 9.5%. Despite the slowdown, the numbers were unexpectedly better. As the global and trade environment still remained optimistic, IE Singapore also upped its expected rate for trade and NODX to 6-7% and 5-6% respectively. IE Singapore stated that growth in 2Q for NODX was due to electronic shipments while non-oil electronic exports fell from a year ago. Total trade growth was due to both oil and non-oil trade growth. The main drivers to the NODX growth in 2Q were China (33.2%), South Korea (62.7%) and Taiwan (22.5%). NODX shipments increased in 2Q for the top 10 markets except for the US, European Union, and Hong Kong.
The relevant report can be found at the website of the International Enterprise Singapore (IE Singapore)
How is your SME business performing versus the overall trade numbers reported? Is it riding the growth trend and gearing up for more orders in the latter half of 2017? We hope so! Perhaps you are now wondering what financing options are available, and solutions may be working capital loan / financing and invoice financing or factoring. Drop us a note and we will be happy to discuss what works for your SME needs.
At IFS Capital Limited, we understand that all businesses are different in their needs and characteristics. That is why we are happy to explore financing options that meet the unique needs of your SME.
Why not drop us a note by clicking this form here and we can discuss this in further detail with you.
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