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flag Singapore's exports drop 4.6% in July, with major pharmaceutical and US shipment declines.

flag Singapore's non-oil domestic exports fell 4.6% in July, compared to the same period last year, with a significant drop of over 40% in shipments to the US. flag This decline is mainly due to a 93.5% drop in pharmaceutical exports. flag Exports to China and Indonesia also fell, but grew to the EU, Taiwan, South Korea, and Hong Kong. flag Despite the downturn, Singapore raised its 2025 economic growth forecast to 1.5-2.5%, up from 0-2.0%, citing global uncertainties.

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