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MTI Forecasts GDP Growth of 4.0 to 6.0 Per Cent For 2011 Following Stong Rebound in 2010

17 February 2011

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17 February 2011. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy grew by 14.5 per cent in the whole of 2010, reversing the decline of 0.8 per cent in 2009. MTI’s growth forecast for 2011 remains at 4.0 to 6.0 per cent.

Performance in Fourth Quarter 2010

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. On a seasonally-adjusted quarter-on-quarter annualised basis, the economy grew by 3.9 per cent, an upturn from the contraction of 16.7 per cent in the preceding quarter.

Download the full press release [PDF, 69 KB].

Economic Survey of Singapore 2010

MINISTRY OF TRADE AND INDUSTRY
17 February 2011

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