How badly will Singapore be hurt by worsening global income, trade woes?

We’re entering a new era of uncertainty, MAS chief Menon says.

As the global economy experiences tepid growth in income and trade for the first time in decades, Singapore's central bank chief Ravi Menon believes this could be a new era of uncertainties.

"I don't know if it is a short term blip in the data ... or this is indicative of something more structural. And it is particularly of concern to Asia," Menon said.

The city-state expects its non-oil domestic exports (NODX) to fall by 3% to 4% in 2016.

Latest figures from the International Enterprise Singapore noted that NODX decrease 10.6% in July.

In its June forecast, the World Trade Organization sees sluggish trade growth in the third quarter of 2016 accompanying its publication of a quarterly trade barometer for the first time.

More so, trade growth has averaged 5% per year since 1990, but has not grown by more than 3% since 2011.

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