Singapore exports have fallen in May vs a rise that was expected
Singapore's non-oil domestic exports -3.5% y/y in May
- expected +8.0%, prior +12.4% in April
Exports to Taiwan, Indonesia, South Korea and Hong Kong increased y/y in May
- exports to the United States, Thailand and Malaysia decreased
Singapore downgraded its GDP forecast for 2025 to 0% to 2% from 1% to 3% in April.
