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Assessing Singapore's Manufacturing Cost Competitiveness

11 August 2008

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Singapore is an open economy with total trade more than 3 times its GDP. In value terms, Singapore’s non-oil domestic exports (NODX) are around 70 per cent Singapore’s GDP. Historically, the performance of Singapore’s NODX has shown a high degree of correlation with economic performance, and in particular the performance of the manufacturing sector 1 (Exhibit 1).

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