China View
10 Apr 2008
SINGAPORE, April 10 (Xinhua) -- Singapore's economic growth remained strong in the first quarter this year, and advance estimates released by the Ministry of Trade and Industry on Thursday showed that real gross domestic product (GDP) rose by 7.2percent on a year-on-year basis.
This was faster than the 5.4 percent gain in the final quarter of 2007, and came despite the slowdown in the U.S. economy and the turbulence in financial markets.
On a quarter-on-quarter seasonally adjusted annualized basis, real GDP expanded by 16.9 percent, after declining by 4.8 percent in the previous quarter, the ministry said in a statement.
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