Singapore's economy is bouncing back at last

Leslie Tang, an economist with UOB Kay Hian, said he did not expect the Singapore dollar to appreciate to a point that would hurt exports.

"I do not think the [central bank] will allow a sharp rise in the Singapore dollar, so I don't think our export performance will be affected," Tang said.

US demand should continue due to the improving employment situation there, while a strong euro should be a key driver for European imports from Singapore, Tang said.