Business News

Apr 14, 2009, 3:08 GMT

Singapore further slashes trade forecasts

Singapore - Singapore on Tuesday revised its total trade projection for this year to a drop of 22 to 25 per cent, from previous expectations of a decline of 17 to 19 per cent, citing weak export markets. Non-oil domestic exports for 2009 are expected to contract by 10 to 13 per cent, from an earlier projection of a 9 to 11-per-cent decline, International Enterprise (IE) Singapore, a government trade agency, said. The contraction in both Singapore's total trade and non-oil domestic exports was larger than expected for the first quarter of this year. Trade was down 28 per cent and exports 26 per cent, compared to a growth of 16 per cent and 0.6 per cent respectively in the same period last year, the agency said. The impact of the fall in global export demand was affecting Asia more severely than previously anticipated, it said. In March trade declined by 24 per cent year-on-year, following a 22-per-cent decrease in the previous month, while exports were down 21 per cent, after dropping 24 per cent in February. Imports declined by 28 per cent in March, after a 20-per-cent decrease in the preceding month.

And Also

Look Back at the Worst Celebrity Breakups

Look Back at the Worst Celebrity Breakups - PopEater
Office 2010 confirmed for June 2010 - The Tech Herald
Aniston Helps Launch Ingber Yoga DVD - Cinema Blend
Sarah Jessica Parker: It's a 'Challenge' to Balance Work and Motherhood - PopEater
A&E series 'Hoarders' and 'Intervention' premiere Monday, Nov. 30th, preview

Your Talkback on this Story

Similar articles

Fall in cargo volume eases at Singapore's Neptune Orient Lines
Singapore sees drop in October exports
Singapore sees non-oil exports drop for fifth-straight month

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

Michael Stuhlbarg

Shohreh Aghdashloo

From Sites we Like

"In 1872, the NY Times published two dozen letters on the subject of scrapple, a steampunk prototype for online food discussion. It's all there: the pseudonymous usernames, off-topic ranting, and preoccupation with pork fat." [Amusing]
Tiki-tour trail terminates in tree [Followup]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint