Electronics shipments dampen Singapore’s export growth

SINGAPORE - Non-oil domestic exports out of Singapore continued to contract in June as electronic shipments weighed on growth. ANZ Bank says that as the supply side of the economy continues to be squeezed, production and domestic exports will continue to underperform regional peers.

Notably, the semiconductor segment is expected to drive a contraction in production the rest of the year, and this will undoubtedly result in weaker domestic exports, ANZ says.

Despite a strong expansion of chemical shipments, driven by volatile pharmaceutical exports, risks continue to be to the downside for production and exports in the second half, it adds. www.live.anz.com (ATI).