Singapore’s May exports surge past expectations

The economy grew 1.7 percent in the January-March quarter from the previous three months on an annualised and seasonally adjusted basis thanks to a slight upward revision in the services sector, revised final figures from the Ministry of Trade and Industry (MTI) showed on Thursday.

SINGAPORE: Singapore’s exports grew at their fastest pace in seven months in May, boosted by an extended surge in pharmaceutical shipments, though a heated Sino-US trade dispute is clouding the outlook for the trade-dependent city state.

Non-oil domestic exports rose 15.5% year-on-year last month, data from trade agency International Enterprise Singapore showed yesterday, accelerating from the 11.8% jump in April and blowing past the 4.7% increase predicted by economists in a Reuters poll.