HEALTHCARE | Staff Reporter, Singapore

Pharma exports plunge to 8-year low

Exports from the sector dropped 54%.

The volatile pharmaceutical segment has seen a 54% plunge in exports for the month of July. 

According to Maybank Kim Eng analyst Chua Hak Bin, the pharmaceuticals dropped to record the lowest level since Dec 2008.

The decline seen in the sector has caused the non-electronics exports to moderate to a 5.2% growth for the month.

Overall, Singapore's non-oil domestic exports continued to post robust growth, extending June's 8.8% to an expansion of 8.5%, which was led by electronics exports.

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