Singapore is more dependent on trade than any other nation, apart from Luxembourg, according to the World Bank. Photo: AFP
Singapore is more dependent on trade than any other nation, apart from Luxembourg, according to the World Bank. Photo: AFP

Singapore’s economic downturn continues as US-China trade war wreaks havoc on Asia export hubs

  • The city state is considered to be a bellwether for the region and its trade malaise is indicative of weak demand elsewhere and bad news for China’s economy
  • Singapore’s total non-oil exports fell 17.3 per cent in June, adding to the surprise 3.4 per cent collapse in gross domestic product reported last week

Singapore is more dependent on trade than any other nation, apart from Luxembourg, according to the World Bank. Photo: AFP
Singapore is more dependent on trade than any other nation, apart from Luxembourg, according to the World Bank. Photo: AFP
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