17 Feb '11, 12am

Strong rebound in 2010 fuels GDP growth of 4-6 per cent for 2011

Strong rebound in 2010 fuels GDP growth of 4-6 per cent for 2011

Singapore: The Ministry of Trade and Industry (MTI) says the growth forecast for 2011 remains at 4.0 to 6.0 per cent. In official figures released Thursday, it revealed that real gross domestic product (GDP) expanded by 12.0 per cent on a year-on-year basis in the fourth quarter of 2010, an improvement from the growth of 10.5 per cent in the previous quarter. The Singapore economy grew by 14.5 per cent in the whole of 2010, reversing the decline of 0.8 per cent in 2009. The economic expansion in 2010 was driven largely by the manufacturing sector. Due to a surge in electronics and biomedical manufacturing output, the manufacturing sector rebounded by 29.7 per cent in 2010 following a 4.2 per cent contraction in 2009. Growth in the construction sector continued in 2010, albeit at a more modest pace of 6.1 per cent compared to 17.1 per cent in 2009. According to MTI, the ser...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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