16 May '11, 4am

Singapore's offshore trade hits $874 billion in 2010

Singapore's offshore trade generated $874 billion in trade turnover in 2010, according to figures released by IE Singapore. -- ST PHOTO: NEO XIAOBIN SINGAPORE'S offshore trade community generated US$700 billion (S$874 billion) in trade turnover in 2010, according to figures released by International Enterprise (IE) Singapore on Monday. That's a 50.5 per cent increase over 2009, achieving a compound annual growth rate of 25 per cent over the past decade. IE Singapore is the lead agency spearheading the country's efforts to develop its external economy. Meanwhile, the total jobs created in Singapore by offshore trade reached 11,250 - a 18.5 per cent increment over 2009. And business spending from offshore trade players increased by 18 per cent over 2009, to S$10.5 billion. Chief Executive Officer of IE Singapore, Mr Teo Eng Cheong said 'offshore trade contributes significant...

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

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Singapore's offshore trade turnover hit US$700b in 2010

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