SINGAPORE'S exports fell last month by the largest amount since February 2002, in yet another indication that the economy is likely to remain in recession in the fourth quarter.

Non-oil domestic exports plunged 17 per cent to $12 billion in November, after falling 15 per cent in October. The decline was broad-based across most markets and products, according to data from IE Singapore.

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Exports to all of Singapore's top 10 markets fell, dropping by almost 30 per cent for Europe, the United States and China - Singapore's three biggest markets. Shipments to other Asian territories, such as Malaysia, Hong Kong, Indonesia and Japan, slipped by about 20 per cent on average.

Economists said the drop in exports was worse than they expected, led by continued weakness in electronics and pharmaceuticals shipments.

Electronics exports sank 17 per cent over the year before, while pharmaceuticals and petrochemicals dropped by almost 50 per cent.

But even excluding electronics and pharmaceuticals, exports fell 10 per cent, the worst in at least five years, said HSBC economists.

Citigroup economist Kit Wei Zheng said exports are expected to keep shrinking at least into the first half of next year, as demand stays deflated in Singapore's main markets.

Singapore slipped into a technical recession in the third quarter, and the Government said on Wednesday that full-year economic growth could come in lower than the 2.5 per cent previously forecast.