Highly trade-dependent economies like Singapore will be hardest hit by these monetary tightening measures. Singapore’s trade-to-GDP ratio was 336.86% in 2022, an increase of 3.52% from 2021. Since October 2022, Singapore’s export-led manufacturing sector, which comprises approximately 20-25% of its GDP, has remained subdued due to the decrease in global demand. After a pandemic-fuelled boom, […]
