US Edition
Singapore's key exports fall 4.6% in July; drop steeper than expected
Singapore's non-oil domestic exports fell 4.6% in July, with pharmaceutical shipments to the US dropping 93.5%, amid ongoing tariff uncertainties and economic risks, Enterprise Singapore said.
- Singapore's key exports to the US, its biggest market, tumbled 42.7% in July, largely due to a 93.5% drop in pharmaceutical shipments.
- Non-Oil domestic exports to China and Indonesia also declined in July, but grew to the EU, Taiwan, South Korea, and Hong Kong.
- Prime Minister Lawrence Wong said that he took "little comfort" from the 10% baseline tariff rate the US imposed on Singapore, warning of more trade barriers for small and open economies.
53 Articles
53 Articles
Singapore key exports slip in July as US shipments tumble 42.7%
SINGAPORE – Singapore’s non-oil domestic exports slipped 4.6 percent in July from a year earlier, government data showed Monday, as shipments to the United States plunged by more than 40 percent. Southeast Asia’s second-largest economy is heavily reliant on international trade and is vulnerable to any global slowdown induced by the tariffs
Singapore's exports fall 4.6pct in July, weaker than forecast
SINGAPORE: Singapore's non-oil domestic exports fell 4.6 per cent in July from the same month a year earlier, government data showed on Monday, weaker than analysts' estimates as pharmaceuticals led a drop in non-electronics shipments. The fall compared with a Reuters poll forecast for annual contraction of 1.8 per cent, and followed a revised 12.9 per cent rise in June.
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