17 Jun '13, 2am

Singapore Exports Fall More Than Estimated on Electronics Slump

Singapore Exports Fall More Than Estimated on Electronics Slump

Singapore’s exports fell more than economists estimated in May as manufacturers shipped fewer electronics after an uneven global recovery hurt demand. Non-oil domestic exports slid 4.6 percent from a year earlier, after falling 1 percent in April, the trade promotion agency said in a statement today. The median of 10 estimates in a Bloomberg News survey was for a 0.2 percent drop. Shipments of electronics dropped 13.2 percent from a year ago, extending the slump to a 10th month. The World Bank last week cut its global growth forecast for 2013 after emerging markets from China to Brazil slowed more than projected, weakening prospects for Singapore’s trade-dependent economy. Analysts have lowered their estimate for the island’s export expansion this year to 2.5 percent from 4 percent, according to a survey by the central bank this month. “The risks Singapore faces are always...

Full article: http://www.bloomberg.com/news/2013-06-17/singapore-export...

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