Singapore’s exports rose for the third consecutive month in June, although the pace of growth slumped due to the slower growth of pharmaceutical shipments, official data showed on July 17.
Non-oil domestic exports (NODX) grew just 1.1 percent last month, slowing significantly from a 15.5 percent expansion in May and 11.8 percent in April, according to figures released by the trade agency Enterprise Singapore.
This was less than the 7.6 percent rise predicted in a Reuters poll of analysts. On a seasonally adjusted month-on-month basis, exports fell 10.8 percent in June after growing 10.3 percent the month before. The poll tipped a contraction of 8 percent.
Pharmaceutical exports grew 19.1 percent in June from the year earlier, slowing from 32.1 per cent growth in May.
Shipments of electronics fell by 7.9 percent, after declining 7.8 percent in May. Channel NewsAsia
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