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Singapore July exports shrink for fifth straight month

Reuters SG

SINGAPORE, Aug 16 (Reuters) - Singapore's exports in July shrank for the fifth straight month, though the slump was slightly less severe than forecast, official data showed on Friday.

Non-oil domestic exports (NODX) last month fell 11.2% year-on-year as shipments of electronics and pharmaceuticals declined, data from the trade agency Enterprise Singapore showed, compared with a revised 17.4% contraction in June.

A Reuters poll of 11 economists had forecast a 15.2% contraction for July.

On a seasonally adjusted month-on-month basis, exports rose 3.7% in July after shrinking a revised 7.8% in June. The poll had called for a 2.7% rise from the month before.

(Reporting by Aradhana Aravindan and John Geddie Editing by Shri Navaratnam)