News analysis

Singapore economy at risk if Russia-Ukraine crisis hits global growth and drives up inflation

As one of the top commodities exporters, Russia has an outsize impact on prices of industrial raw materials and global trade flows - Singapore's economic lifeline. PHOTO: ST FILE
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SINGAPORE - Singapore's economy might be less directly impacted by the war in Ukraine or the sanctions on Russia, but a potential hit to global growth and rising inflation can eventually put a dent on its economic outlook.

Russia represents a rather small share of global gross domestic product (GDP) at about 1.6 per cent, and it is not one of Singapore's major trading partners.

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