SINGAPORE – With the end of the biggest global inflationary surge in decades and a turn in the electronics cycle in sight, Singapore’s economy looks set to stage a comeback in 2024 – the Year of the Dragon on the Chinese calendar.

But the much-anticipated export-driven recovery is likely to be modest, amid subdued demand from consumers in key markets such as the United States, European Union and China, where economic growth will remain subpar for most of the year.