Singapore Exports Shrink More Than Expected on Falling Shipments to China

(Bloomberg) — Singapore’s exports came in weaker than expected in December, dragged down by a fall in shipments to China.

Non-oil domestic exports declined 20.6% from a year earlier, steeper than the median expectation for a 16% contraction in a Bloomberg survey. That follows a 14.7% fall in November.

Total trade decreased by 7.7% during the month from a year ago, according to a report released by the Enterprise Singapore. Total exports declined by 7.1%, while overall imports shrank by 8.2%.