SINGAPORE – Singapore's exports to the US fell 44.4% year-over-year in February, pulling the nation's shipments down 24%.
Weak demand for electronics was among the reasons cited for the drop. Electronics exports dropped 31.9% to S$3.5 billion.
Shipments to the country's 10 top trading partners were down, except China. Sales to US customers dropped to US$673 million, but the percentage drop actually climbed slightly from a 50% plunge in January. Shipments to the European Union fell 36.7%, and sales to Japan dropped 38.9%.