The Singapore economy has not only recovered from the recession but has grown bigger than it was before. The gross domestic product totalled S$72.6 billion (about $53.3 billion) in the second quarter of this year, considerably more than it was during the same period last year (S$61.1 billion) and the second quarter of 2008 (S$62.2 billion). That was before the recession, which began in October 2008. All the GDP figures are at 2005 market prices.
Manufacturing continues to play the biggest role in the economy followed by wholesale and retail trade, financial services and business services. See the next chart showing the performance of each industry.
Uploaded with ImageShack.us
All the figures are from the Economic Survey of Singapore for the second quarter of 2010. You can see it here on the Ministry of Trade and Industry website and also download it.
Although the GDP has gone up, Singapore's total trade was still lower than it was before the recession. That's strange indeed for an export-oriented economy like Singapore. But that's what the survey shows. See my previous post.
Related posts:
