|Singapore Exports Plunge in June|
|by Tom McGregor||Wed, Jul 16, 2014, 11:34 PM|
What happened to President Barry Obama's so-called American economy rebound? Asian countries exporting to the US have experienced dramatic drops in exports to America in recent months.
According to Channel NewsAsia, "Non-oil domestic exports (NODX) in Singapore contracted 4.6 per cent on-year in June, dragged down by electronic exports which outweighed a rise in non-electronic shipments."
Singapore is a major player in the global trade industry. If exports drop for the city-state that would mean American consumers are not buying.
As reported by Channel NewsAsia, "The fall in NODX comes after a 6.6 per cent on-year decrease in the previous month, according to statistics released on Thursday (July 17) by International Enterprise (IE) Singapore."
The US and European markets continue to suffer under dire economic circumstances.
To read the entire article from Channel NewsAsia, link here:
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