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SINGAPORE: Singapore's key exports declined by a larger-than-expected margin in October compared to a year ago, as both electronic and non-electronic exports fell on the back of a slower global demand.
Data from International Enterprise Singapore (IE Singapore) showed the Republic's non-oil domestic exports fell 15 per cent on-year, versus a milder decline of 5.7 per cent in September.
Economists polled by Dow Jones newswires last week said they were expecting an 8.7 per cent drop.
IE Singapore said on Monday that shipment of electronic products contracted 15 per cent on-year. This was due to declines in the shipment of consumer electronics and parts for integrated circuits.
Non-electronic exports, meanwhile, also fell 15 per cent, led by reduced shipment of pharmaceuticals, ships and boats, petrochemicals and primary chemicals.
IE Singapore said exports to Singapore's top 10 markets recorded contractions.
- CNA/yb
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