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Singapore Exports Fall Most Since 2016

Singapore's exports declined the most in over two years in December, figures from Enterprise Singapore showed on Thursday.

Non-oil domestic exports, or NODX, dropped 8.5 percent year-on-year following a revised 2.8 percent slump in November.

The fall was in contrast to economists expectations for a growth of 2 percent.

The latest decline was the worst since a slump in October 2016.

The agency attributed the latest fall in the NODX mainly to lower demand from the EU, South Korea and Malaysia. Exports to the majority of the top markets declined in December, except the US and China.

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