Singapore May non-oil domestic exports fall 10.5 pct as drug shipments tumble

Non-oil domestic exports in May fell 10.5 percent to S$12.5 billion from a year ago as pharmaceutical exports tumbled and electronics shipments remained weak, International Enterprise

Singapore said Tuesday.

A Thomson IFR poll of economists expected exports to have grown by an average of 5.1 percent last month from a year ago, compared to a revised rise of 5.3 percent in April. The economists had expected stronger pharmaceutical exports to offset weaker demand for electronics.

Pharmaceutical exports fell at an annual rate of 48.5 percent in May, while electronics exports were down 8.5 percent.

Exports to Singapore's biggest markets were weak, with shipments to Europe plunging 28 percent in May and exports to the United States falling by 22.3 percent. Shipments to China also fell 1.5 percent last month. ($1=S$1.36)