Singapore exports continue to fall for 6 consecutive month
- Asian Market
- 4 weeks ago
Singapore’s non-oil exports have continued to drop for a sixth month running as the region grapples with a slowdown in production.
Only last month the country’s Ministry of Trade and Industry slashed its growth outlook for the year to be between 0 to 1% as electronic manufacturing took a negative turn.
Electronics exports fell by 25.9% while non-electronic exports retreated by 2.2%.
Exports decreased by 8.9% year on year n August which is better than the 11.4% drop it saw in the previous month of July and well-off what analysts expected at 12.9%.
Source: Smart Trend Team