Singapore's January non-oil domestic exports are expected to decline by 5% on year due mainly to the slowdown in China and rising competition from other low-cost producing countries, Moody's Analytics says.
“China's transition towards a slower growth path has been one of the main drags on Singapore's exports,” it says. “Electronics exports have also been hit by falling demand for personal computers globally and more intense competition from lower-cost countries.”
Moody's Analytics adds that the country's pharmaceutical exports have been hit by a slow pace of recovery in economic growth in Europe. The data is due Wednesday.
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“China's transition towards a slower growth path has been one of the main drags on Singapore's exports,” it says. “Electronics exports have also been hit by falling demand for personal computers globally and more intense competition from lower-cost countries.”
Moody's Analytics adds that the country's pharmaceutical exports have been hit by a slow pace of recovery in economic growth in Europe. The data is due Wednesday.
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