Singapore’s Exports Fall More than Expected in March

Singapore’s exports in March fell more than expected on declines in shipments to the United States and Europe, official data showed on Thursday, clouding the city-state’s trade outlook.

Non-oil domestic exports slid 6.6 percent in March from a year earlier, according to the trade agency International Enterprise Singapore, far below a median forecast of a 0.8 percent dip in a Reuters poll.  The exports also fell a seasonally adjusted 8.9 percent from February, a severe shortfall of the estimated 1.6 percent decline.

“This suggests an export recovery story is very patchy,” said Selena Ling, head of treasury research at Oversea-Chinese Banking Corp.  “Exports are likely to be flat or underperform in the coming months,” Ling added.