Economics
Singapore Exports Unexpectedly Expand for Second Month in April
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Singapore’s exports unexpectedly climbed for a second straight month in April, mainly due to a jump in pharmaceuticals.
Non-oil domestic exports grew 9.7% from a year ago, after gaining 17.6% in March, Enterprise Singapore said in a statement Monday. The median estimate in a Bloomberg survey of economists was for a contraction of 5%. Compared with the previous month, exports fell a seasonally adjusted 5.8%, versus a median estimate for a 19.8% contraction.