Singapore posts worst export drop in a decade

Singapore’s non-oil domestic exports plunged 25% year on year in January - the largest drop in the last decade, according to data of the Singaporean government.
Singapore posts worst export drop in a decade ảnh 1Illustrative image (Photo: https://www.thestar.com.my)

Singapore (VNA) - Singapore’s non-oil domestic exports plunged 25% year on year in January -  the largest drop in the last decade, according to data of the Singaporean government.

The data showed that Singapore’s non-oil exports to its top markets led the wider decline, with exports to China falling by more than 41%, to the US by 31.5% and to Hong Kong (China) by over 55% in the month.

This is the fourth consecutive contraction and the steepest fall since February 2013, when the economy saw a decline of over 30%.

Total trade also fell by 10.4% year on year, with total exports dropping 9.6% and imports contracting by 11.3%./.

VNA

See more