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Non-oil domestic exports tumbling

Analysts noted that the decline was worse than that of September 2001, following the terrorist attacks in the US, when exports dropped 30.7 per cent.

This came on the back of falling demand from all of Singapore’s top 10 markets amid a global economic slowdown.

Compared to the previous year, exports to China fell by 52 per cent in January, while those to the US decreased by 50 per cent.

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