DBS: Singapore's exports may continue to shrink in August.

The economic team of the Research Department of DBS Group stated in a report that Singapore's non-oil domestic exports in August may have declined for the second consecutive month, partly due to a high base effect. DBS pointed out that last August, the non-oil domestic exports of electronic products reached a record high. The United States has maintained a 10% tariff on Singaporean goods. However, DBS stated that the tariffs imposed by the United States on Singapore's trading partners may have permeated the supply chain, putting pressure on the external demand for other non-oil domestic export products. DBS forecasts that non-oil domestic exports in August will decline by 1.0%, an improvement from the 4.6% contraction in July.