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The following article was published in our article directory on December 27, 2010.
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Singapore Become World Fastest Growing Economies Countries

Article Category: Business Management

Author Name: Amanda xzh

After the financial crisis, Singapore, the strong economic recovery this year, the first three quarters of the average economic growth rate reached 15.5%, Singapore, Singapore Trade and Industry forecast full-year 13% -15% can get high-speed growth, the implementation of the acknowledged leaders in the global economy . APEC leaders summit this year, Singapore Prime Minister Lee Hsien Loong announced this figure Shihai quipped, this is not the computer the wrong number, but very real, strong economic rebound.

In the first three months of strong growth in Singapore's manufacturing sector, the annual growth of 30% compared with last year's fourth quarter, but also an increase of 139%. In this drive, the Singapore economy over the first quarter of this year, an increase of 13.1% over the same period last year, the strongest in 16 years of growth. In addition, the field of civil engineering in the public and private construction projects with the support of the construction industry increased by 11.3% than in the service sector also increased by 8.4%. According to estimates released by Singapore's Trade and Industry figures show that the first quarter of this year compared with last year's fourth quarter, economic growth up to 32.1%, much higher than experts had predicted the growth target of 18.4%. This is since 1975 the strongest quarter of growth than growth.

The International Monetary Fund statistics, Singapore's economic growth last beyond a decade ago China was in 2000. Local analysts believe that the growth of Singapore's pharmaceutical industry output rose, and the opening of two Integrated Resorts, and promote economic growth in the first half. The Singapore Government is committed to service improvement and investment in the economy may also play a role in supporting and promoting the local stock market has outperformed China, Taiwan and Macao and other regional markets.

Because of strong economic growth, growth index has been renewed, Singapore Trade and Industry raised three times this year that the annual economic growth forecast indicators, the latest adjustment is from the original 7% -9%, a significant adjustment to 13% -15% . This adjustment means that economic growth this year could surpass 1970's record 13.8% of the records. Trade and Industry said the economy is expected to reflect the increase of the three factors, namely economic performance in the first quarter of this year, well, the second is economic growth in the second quarter of stronger than expected third is the growth momentum in the second half of this year The slowing down.

The first half of this year, the Singapore government estimated the economic growth index was 18.1%, while in fact in the manufacturing sector, led by the second quarter of Singapore's economy grew a record high, reaching 19.3%, far outstripping the 16.9% first quarter growth record than the previously reported 15.5% of the estimated number is much higher.

However, after a seasonally adjusted from the statistical data, the expansion of Singapore's economy has slowed, growth in the first quarter, up 45.9% quarter over the second quarter quarter growth is slowing compared to 26%. Trade and Industry believes that the industry-specific factors, such as the field of bio-pharmaceutical manufacturing facility needs to close maintenance, Singapore, surprisingly strong growth in the first half of this year is unlikely to continue into the second half. Although the second half of the year on year increase will continue to maintain a good level, but given the current level of economic activity, growth rate over the next quarter may be reduced. Taking into account these factors, the third time this year, Trade and Industry raised its growth forecast for the year.

According to data released by Trade and Industry, the manufacturing sector in the second quarter, continuing its outstanding performance, an increase of 45.5%, mainly due to surge in biomedical manufacturing output, as well as a good global demand for electronic products, driven by electronic strong industry expansion. Construction activities in the public domain with the support of the construction industry grew 13.5%, 10.2% more than the increase in the first quarter. Services grew by 11.4%, a good flow of global trade to promote the growth of trade-related areas, integrated resorts and the opening of the increase in tourists visiting to promote the development of tourism related fields. In addition, foreign trade and domestic bank lending support, the financial services sector has also been strong growth.

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