18 Jul '11, 7am

Singapore's export growth weak in June

Singapore's export growth weak in June

Singapore's exports grew weakly in June, confirming that the Singapore economy has slowed down in the second quarter of this year. -- ST PHOTO: TERENCE TAN SINGAPORE'S exports grew weakly in June, confirming that the Singapore economy has slowed down in the second quarter of this year. Singapore's non-oil domestic exports grew by just 1.1 per cent, dragged down by electronics exports which shrank 17 per cent. But non-electronics exports grew by 12 per cent, led by ships and boats, thus buffering the drop in electronics on export figures. China continued to grow as an important market for Singapore's exports, with exports to China rising by 12 per cent last month. Singapore's exports to the United States (US) and Europe have slowed however, as a result of the economic woes they are facing there. Exports to the debt-stricken European Union grew by just 1.3 per cent, down fro...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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