Singapore’s exports unexpectedly surge 11.6% in May
Singapore’s exports to China, the country’s largest export market, decreased 10.1% in May after a 7.4% decline in April, falling for the 11th consecutive month, while its exports to the US increased 9.1% following a 7% decline in April.
In total, Singapore’s non-electronic exports rose 19% in May despite the 8.1% fall in April while electronic exports decreased 6% after a 7.9% fall in the previous month. Non-oil re-exports (NORX) were down 2.8% on the back of a 7.9% fall in electronic re-exports while non-electronic re-exports surged 2.7% in May.
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