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According to the advance gross domestic product (GDP) estimates released by the Ministry of Trade and Industry (MTI), Singapore’s economy experienced a slowing pace of growth in the fourth quarter of 2011. On a year-on-year (y-o-y) basis, GDP expanded by 3.6% compared to the 5.9% in the third quarter.
STI News
Singapore's trade-driven economy shrank in the last quarter of 2011, government figures showed Tuesday, raising the prospect of a technical recession as Europe grapples with its debt crisis.
Advance estimates released by the Ministry of Trade and Industry showed gross domestic product (GDP) fell 4.9 percent in the October-December quarter from the previous three months on a seasonally adjusted basis.
Singapore's total GDP was valued at Sg$303.7 billion ($235.3 billion) in 2010, government figures showed.
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