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Singapore's exports drop 4.6% in July, with major pharmaceutical and US shipment declines.
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.
This decline is mainly due to a 93.5% drop in pharmaceutical exports.
Exports to China and Indonesia also fell, but grew to the EU, Taiwan, South Korea, and Hong Kong.
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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Las exportaciones de Singapur caen un 4,6% en julio, con importantes caídas en los envíos farmacéuticos y estadounidenses.