Non-oil exports from Singapore grew rather than shrank in February, showing a rise in shipments to the European Union, Japan and the U.S.
But exports to China and Hong Kong fell, demonstrating the instability of the city-state’s key export markets. Economists described February’s improvement as a one-off. They said that conditions have deteriorated since February in the EU and the U.S., with the authorities in many countries and cities restricting activity or even closing borders to contain COVID-19.