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Trade war

Asian exports drop on trade war and weak smartphone demand

March shipments at 2.5-year low in Singapore; down 4th straight month in Japan

Asian exports continue to fall due to worries over U.S.-China trade tensions and a cooling global smartphone market.   © Reuters

SINGAPORE -- Asia's exports shrank in March, the latest official trade statistics showed, highlighting ongoing U.S.-China trade tensions and a global smartphone slump that has hit electronics exporters hard.

Singapore on Wednesday said non-oil domestic exports -- the country's benchmark trade figure -- dropped 11.7% on the year, reversing February's 4.8% growth. The March figure was the biggest decline since October 2016.

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