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Singapore’s Export Decline Deepens Again; Local Dollar Falls

  • Non-oil domestic exports to China, U.S., Indonesia drop
  • Government this month cut top end of 2016 growth forecast
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Photographer: Nicky Loh/Bloomberg
Updated on

Singapore’s exports plunged the most in four months as orders from China, Indonesia and the U.S. dropped. The local currency fell as the report provided more evidence that the economy is slowing.

Non-oil domestic exports dropped 10.6 percent in July from a year earlier, worse than the median estimate of a 2.5 percent decline in a Bloomberg survey of 15 economists, a government report showed Wednesday. That compares with a revised 2.4 percent decline in June.