Singapore's Growth May Slow in 2025 Due to Weak Chip Cycle, Pharmaceutical Exports
Singapore's Growth May Slow in 2025 Due to Weak Chip Cycle, Pharmaceutical Exports
It said accommodative policies are likely, as the Monetary Authority of Singapore (MAS) is expected to ease monetary policy in 2025.Global demand and elevated geopolitical uncertainties could weigh on export performance in the coming year.
全球需求和加剧的地缘政治不确定性可能会影响未来一年的出口表现。
Singapore's economic growth could slow in 2025 due to a downturn in the chip cycle and weaker pharmaceutical exports, Natixis said.
Natixis表示，因芯片周期下滑和药品出口疲软，2025年新加坡经济增长可能放缓。
Despite Singapore's economic resilience, Natixis noted soft global demand and elevated geopolitical uncertainties could weigh on export performance in the coming year.
尽管新加坡经济韧性强，但Natixis指出，软弱的全球需求和加剧的地缘政治不确定性可能会影响未来一年的出口表现。
It said accommodative policies are likely, as the Monetary Authority of Singapore (MAS) is expected to ease monetary policy in 2025.
它表示宽松政策可能会实施，因为新加坡金融管理局（MAS）预计将在2025年放宽货币政策。
This shift aims to counter the weakening trade environment and support domestic stability, particularly ahead of the general elections in November 2025.
这一转变旨在应对疲软的交易环境并支持国内稳定，尤其是在2025年11月的全国大选前。
Cost-of-living concerns remain prominent following the GST hike to 9%, with elevated rents and inflation pressures impacting households. However, Natixis forecasts inflation to ease to 2.2% in 2025, down from 2.5% in 2024, offering slight relief to consumers.
生活成本问题在消费税上涨至9%后依然突出，租金上涨和通货膨胀压力影响家庭。然而，Natixis预测通货膨胀将在2025年降至2.2%，低于2024年的2.5%，给消费者带来些许缓解。
On a positive note, Natixis highlighted Singapore's advantage amidst US-China tensions, as the city-state continues to attract diversification flows from companies and investors seeking alternatives to Hong Kong.
值得一提的是，在美中紧张关系中，Natixis强调新加坡的优势，因为这个城市国家继续吸引寻求替代香港的公司和投资者的多元化资金流。
With expectations of monetary easing, the Singapore dollar may face depreciation pressures in 2025, particularly as elevated US interest rates and a softer yuan add further challenges.
随着市场对货币宽松的预期，新加坡元在2025年可能面临贬值压力，特别是由于美国利率居高不下以及人民币疲软，给其带来更大的挑战。
