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Singapore Exports Drop In May

Singapore's non-oil domestic exports decreased due to weak demand for non-electronic goods in May, data from Enterprise Singapore showed on Wednesday.

Non-oil domestic exports decreased 4.5 percent year-on-year in May, after a 9.7 percent rise in April. Economists had expected a 0.1 percent fall.

Electronic NODX grew 12.5 percent, while non-electronic NODX declined 8.8 percent.

On a monthly basis, NODX declined 4.5 percent in May, following a 5.1 percent fall in the previous month.

NODX to the top markets grew in May, though exports to the EU 27, Indonesia, China, Malaysia, Hong Kong and Thailand declined. The largest contributors to the growth were the US, Japan and Taiwan.

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