18 JULY 2017: Economy and SME Financing News
There was a strong rebound for Singapore exports in June after subdued performance in April and May. The strong 8.2% jump in Non-oil domestic exports (Nodx), higher than the predicted 5%, was largely attributed to the electronics sector and the Chinese market. Views from economists ranged from cautious to optimistic, generally on how sustainable the growth trend for Nodx would be for the rest of 2017. The main worry was due to a sharply weaker electronics growth which had expanded only 5.4% in June from a year earlier compared to May which recorded 28.9% growth. A reason for this slowdown was due to the winding down of the current electronics cycle culminating in the next wave of smartphones that will be launched in 2H 2017.
Singapore’s top 10 markets and their yoy growth rates were China (+48.9%), South Korea (+56.9%), Japan (+26.7%), Malaysia (+1.7%) and Hong Kong (+1.6%), which more than offset the falls to the US (-5.7%), Taiwan (-5.6%), the EU (-3.3%), Thailand (-1.8%) and Indonesia (-1.6%).
The full report can be found at the website of I.E. Singapore.
Perhaps your SME business is enjoying the exports growth uplift as highlighted in this article and gearing up for more orders in the second half of the year. Maybe you are now considering what SME financing options might be suited for your business plans. Possible solutions can include working capital financing and invoice financing or factoring. We will be happy to discuss and come up with the optimal plan for your business.
At IFS Capital Limited, we understand that all businesses are different in their needs and characteristics. That is why we are happy to consider SME financing options that meet your unique needs.
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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