Exports expected to rise 2% to 4% this year

Singapore's exports grew just 0.5 per cent last year, missing forecasts of a 2 to 3 per cent increase.

But they are expected to perform better this year, according to trade agency IE Singapore, which is tipping a rise in exports of 2 to 4 per cent for 2013.

Last year's growth in non-oil domestic exports was lower than projected due to an unexpected 4.2 per cent slump in exports in the fourth quarter of last year, the trade agency said.

For the whole year, electronic exports fell 4.1 per cent, following the 11.6 per cent plunge in 2011.

Non-electronic exports rose by 3 per cent last year, lower than the 11.7 per cent increase in 2011.

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