The Malaysian Insider, 18 Feb 2009
SINGAPORE, Feb 18 – The global recession dealt Singapore a hammer blow in January with exports recording their worst performance in the nation’s history.
Shipments crashed 34.8 per cent – a “spectacularly bad” number, said one economist – and the largest fall since the Government began collating year-on-year figures in 1977.
That meant it even exceeds the previous worst of 30.7 per cent set in September 2001, the month of the terrorist attacks in New York and Washington.
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