Singapore exports fell on lower shipments trimmed by Europe’s debt crisis and Chinese New Year holiday

20-Feb-12

For the first time in three months, Singapore’s exports fell in January. Most affected were electronics and petrochemical shipments trimmed by falling demand due to Europe’s debt crisis and as the Chinese New Year holiday shortened the working month, as per Bloomberg. Non-oil domestic exports slid 2.1 percent from a year ago, while shipments to Europe plunged 14.5%. The numbers could improve in for electronics as USA shows signs of improvement.