Xinhua, 21 May 2009
SINGAPORE, May 21 (Xinhua) -- Singapore's total external trade contracted by 28 percent in the first quarter of 2009 over the same period last year, after the 9.6 percent decline in the previous quarter, official data showed on Thursday.
According to the trade-promotion agency International Enterprise (IE) Singapore, the level of total trade reached 165 billion Singapore dollars (about 113 billion U.S. dollars) in the first three months of the year. Both total exports and total imports declined by 28 percent in the first quarter of 2009 over the same period last year.
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