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.
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