Singapore December exports plunge 21%
19-JAN-2009 Intellasia | Reuters |
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Jan 19, 2009 - 7:00:00 AM |
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Singapore's exports fell more sharply than expected, hammered by recession in key US and European markets.
Singapore's non-oil exports slid an adjusted 13.1% in December from the previous month.
The fall compared with market expectations for a drop of 4.5% and followed a 2.8% drop in November.
From a year earlier, non-oil exports plunged 20.8% -their sharpest decline in seven-years -to S$10.5 billion (S$1 = RM2.41), trade promotion agency International Enterprise Singapore said yesterday.
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