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Singapore's Dec exports record largest drop in 14 months

Published on Jan 17, 2013 8:53 AM
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Shipping containers are moved and stacked at the port of Singapore, on Wednesday, Oct 13, 2010. Singapore's non-oil domestic exports fell 16.3 per cent in December compared with a year previously, as fewer electronics and pharmaceutical goods were shipped. -- PHOTO: BLOOMBERG

Singapore's non-oil domestic exports fell 16.3 per cent in December compared with a year previously, as fewer electronics and pharmaceutical goods were shipped.

December's figures were worse than expected, with the median estimate from Bloomberg News expecting a 7.6 per cent decline.

November's export numbers showed a 2.6 per cent drop.

The forecast for exports growth this year is between 2 and 4 per cent, while the economy is predicted to expand at between 1 and 3 per cent.