06 Apr '11, 9am

Singapore's electronic sector hits record growth rate

The EDB said that the future for the sector looks bright, especially with demand for electronic devices expected to grow and Asia becoming the centre of gravity for the world economy. -- ST PHOTO: NURIA LING SINGAPORE'S electronic sector posted its fastest growth rate in 20 years last year, as global demand for consumer electronic products such as iPads and smart phones soared. It chalked up an impressive 27 per cent growth rate, three times that of the global industry rate, to record $89.9 billion in output, said the Economic Development Board (EDB) on Wednesday. This increased the sector's total share of Gross Domestic Product to 7 per cent, up from 5.7 per cent previously. The electronics sector, which has been a mainstay of the economy since the 1970s, also attracted $5.8 billion in fixed asset investments last year, up 15 per cent from 2009. The EDB said that the futu...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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