<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>August 11, 2008, 8.57 am (Singapore time)
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>MTI downgrades 2008 exports growth to minus 4-2%
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Singapore's non-oil domestic exports (NODX) is expected to contract between 4 and 2 per cent this year, down 6 percentage points from the previous government projection of 2 to 4 per cent expansion.
Giving the latest prediction, International Enterprise Singapore said growth in the second half is expected to be as week as the first half as world activity continued to decelerate for the rest of the year.
IE Singapore made the remark when it released on Monday the trade figures for the first six months of the year.
Exports fell by 5.5 per cent in the second quarter of this year, reversing the first quarter's marginal 0.6 per gain, on lower shipments of integrated circuits, parts of personal computers and telecommunications equipments.
<TABLE cellSpacing=0 cellPadding=5 width=120 align=left border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=4 width=200 align=left border=0><TBODY><TR bgColor=#4e6e78><TD colSpan=2 height=8>[FONT=Verdana, Arial, Helvetica, sans-serif]Related link: </TD></TR><TR bgColor=#d5e9f1><TD>
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Weaker sales of drugs, disk media products and printing bookbinding machinery also dampened exports.
In the first half of the year, NODX fell 2.4 per cent. Among the top markets, the US, EU and Thailand contributed the most to the contraction. -- BT ONLINE [/FONT]
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>MTI downgrades 2008 exports growth to minus 4-2%
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>Singapore's non-oil domestic exports (NODX) is expected to contract between 4 and 2 per cent this year, down 6 percentage points from the previous government projection of 2 to 4 per cent expansion.
Giving the latest prediction, International Enterprise Singapore said growth in the second half is expected to be as week as the first half as world activity continued to decelerate for the rest of the year.
IE Singapore made the remark when it released on Monday the trade figures for the first six months of the year.
Exports fell by 5.5 per cent in the second quarter of this year, reversing the first quarter's marginal 0.6 per gain, on lower shipments of integrated circuits, parts of personal computers and telecommunications equipments.
<TABLE cellSpacing=0 cellPadding=5 width=120 align=left border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=4 width=200 align=left border=0><TBODY><TR bgColor=#4e6e78><TD colSpan=2 height=8>[FONT=Verdana, Arial, Helvetica, sans-serif]Related link: </TD></TR><TR bgColor=#d5e9f1><TD>
Weaker sales of drugs, disk media products and printing bookbinding machinery also dampened exports.
In the first half of the year, NODX fell 2.4 per cent. Among the top markets, the US, EU and Thailand contributed the most to the contraction. -- BT ONLINE [/FONT]
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