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Chart of the Day: NODX struggles with weak global demand
Singapore’s overall export performance has been badly affected.
“The overall non-oil domestic export growth has continued to falter. This is especially true in Set-Oct11, at the peak of the European debt crisis. The downside risk to the global economy has literally choked off export demand. Indeed, export sales to the developed economies have been sluggish and Asia’s demand has also been cooling. Singapore’s overall export performance has thus been badly affected,” said DBS.
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