Singapore Exports Decline for 5th Month; Worst Slump in 6 Years

Bloomberg.com, 17 Oct 2008, Shamim Adam

Oct. 17 (Bloomberg) -- Singapore's exports declined for the fifth straight month, the longest contraction in six years, as companies shipped fewer electronics and pharmaceuticals to customers in the U.S. and Europe.

Non-oil domestic exports slid 5.7 percent last month from a year earlier, after declining a revised 13.9 percent in August, the government's trade promotion agency said in a statement today. Economists had expected a 9.7 percent drop.

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