20 Jun '11, 10am

IM$avvy Info Hub: Surprising jump in May exports #investment #news

COMPANIES in Singapore shipped more goods overseas than expected last month, supported by a surge in pharmaceutical exports. GLOBAL ECONOMIC CYCLE AFFECTS SINGAPORE 'Singapore remains sensitive to the global economic cycle. A one percentage point fall in US GDP (gross domestic product) growth historically reduces Singapore's GDP by about 1.7 percentage points.' Bank of America Merrill Lynch economist Chua Hak Bin But economists warn that the outlook for Singapore's export sector remains cloudy, darkened by the prospect of slower growth in Europe and the United States, which are among the Republic's biggest trading partners. Singapore's non-oil domestic exports rose 7.8 per cent in May over the same month a year ago, following a revised 2per cent decline in April, trade agency IE Singapore said yesterday. Economists surveyed by Bloomberg News had expected a rise of only abo...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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