Asian trade figures for May have been lousy so far

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As was the case for China and Japan, Singaporean trade figures have disappointed in May.

According to IE Singapore non-oil domestic exports fell by 0.2% in the year to May. Analysts had been expecting an increase of 3.1% following a 2.2% gain in April.

Exports to China fell by 4.3% from a year earlier, slightly better than the 5.5% contraction in April, while those to Europe fell 5.6% following a 11.4% increase seen previously.

Reflective of the recent port disruptions seen on the US west coast exports to the United States jumped 18.1% having contracted 8.3% in April.

The full trade report from International Enterprise Singapore can be found here.

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