By Saurabh Chaturvedi
Singapore's key non-oil domestic exports fell more than expected in June, weighed by both electronics and non-electronics exports.
Exports of goods made in Singapore fell 17.3% on year in June, compared with a revised decrease of 16.3% in May, government agency Enterprise Singapore said Wednesday.
Exports were expected to contract 9.4% on year, based on the median estimate from a Wall Street Journal poll of seven economists.
Exports fell 7.6% on month seasonally adjusted, after rising a revised 5.8%in May. The poll of economists had projected June exports would fall 3.5% on month.
Electronics exports fell 31.9% on year in June while non-electronics shipments were down 12.4%. Exports of pharmaceuticals fell 11.3% on year, after rising 28.5% in May.
Exports to China, one of the biggest foreign markets for domestic goods, fell 15.8% on year, following a 23.3% fall in May. Exports to the European Union fell 22.1% while shipments to the U.S. were 1.5% higher.
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