Singapore exports fall in May

14 June, 2017 12:00 AM printer

SINGAPORE: Singapore's non-oil domestic exports in May likely contracted for a second straight month on an annual basis, a Reuters poll showed on Tuesday.

The median forecast from a survey of 12 economists was for non-oil domestic exports to fall 3.7 percent compared with May 2016.

In April, exports shrank 0.7 percent from a year earlier, reports The Times of India.

Analysts said they anticipated a fall in May, due to a high base from 12 months earlier, when exports jumped by double-digits. The annual number should be down because of "a spike in exports of specialised machinery in May last year," said Nomura economist Brian Tan.