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Singapore's exports unexpectedly drop 6.6% in May

Published on Jun 17, 2014 8:30 AM
 
Exports from Singapore sank back into negative territory last month, disappointing economists' expectations. -- ST FILE

SINGAPORE - Exports from Singapore sank back into negative territory last month, disappointing economists' expectations.

Singapore's non-oil domestic exports fell 6.6 per cent in May from a year earlier, after rising 0.9 per cent in April, trade agency IE Singapore said on Tuesday. Exports had also fallen 6.6 per cent in March.

Compared with April, non-oil domestic exports contracted 7.5 per cent in May, IE Singapore added.

Economists polled by news agency Reuters had forecast exports in May to rise 0.9 per cent rise from a year ago and 0.5 per cent from April.

 
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