Singapore key exports fall at slower pace in May: Govt

Singapore said Wednesday the decline in its exports eased in May, raising hopes that demand for goods from the export-dependent economy may have bottomed out.
However, the good news was tempered by the fact that the figures were buoyed by the volatile pharmaceuticals sector, while the island-state's other main exports continued to plummet.
Non-oil domestic exports (NODX) were 12.1 percent lower year on year.
The figure was slower than the 19.2 percent fall recorded in April and the 17.3 percent drop in March, according to the data released by International Enterprise (IE) Singapore, the government's trade promotion body.
It was also better than the 16.6 percent drop expected in a Dow Jones Newswires poll of analysts.
On a seasonally adjusted basis, NODX rose 5.6 percent month on month in May following a 1.4 percent drop in April, IE Singapore said.