Hanoi (VNA) -Singapore’s exports in July dropped for the fifth consecutive month, althoughthe fall was slightly less severe than forecast, data from the trade agencyEnterprise Singapore showed on August 16.
Non-oil domestic exports(NODX) last month fell 11.2 percent year-on-year as shipments of electronicsand pharmaceuticals declined, compared with a revised 17.4 percent decrease inJune.
A Reuters poll of 11economists had forecast a 15.2 percent fall for July.
On a seasonally adjustedmonth-on-month basis, exports rose 3.7 percent in July after shrinking arevised 7.8 percent in June.
On August 13, theSingaporean Government revised down its gross domestic product (GDP) growthforecast for 2019 to 0-1 percent from 1.5-2.5 percent predicted previously.
The Singaporean economy contracted by 3.3 percent in thesecond quarter of 2019, a reversal from the 3.8 percent growth in the firstquarter.-VNA