Singapore firms less optimistic about growth in international trade

Nearly 90% of Singapore-based firms are reassessing business models and investment plans due to tariff volatility, according to HSBC’s 2025 Global Trade Pulse Survey. While 83% remain optimistic about trade growth, many expect revenue to drop by 22% on average amid supply-chain delays. Over half of the surveyed firms plan to expand trade with ASEAN, India, and China, while eyeing Europe and the Middle East as emerging corridors. Rising tariffs and costs have prompted 42% of firms to raise prices and boost inventories. Businesses are also investing in operational resilience, with more than half adopting new technologies or launching new products. Liquidity, payment terms, and supply chain finance are top tools in navigating disruptions, as capital expenditure slows amid persistent trade uncertainty.