Singapore revises growth projection to 7-9 pc for 2010

SINGAPORE: The Singapore government today revised its growth forecast for 2010 between seven and nine per cent, citing strong GDP growth in the first quarter.

Earlier it had forecasted a gross domestic product (GDP) growth between 4.5 per cent and six per cent for the year.

Advance estimates indicated that Singapore's GDP expanded strongly by 13.1 per cent on a year-on-year basis in the first quarter of the current year, the Ministry of Trade and Industry said in a statement.

Manufacturing sector led the first quarter growth, supported by robust expansion of electronics production underpinned by a strong recovery in global semiconductor chip sales and a stronger than expected rise in biomedical manufacturing output.