Malaysia Star, 28 May 2011SINGAPORE: Singapore's economy looks set to overtake Hong Kong's this year, helped by strong gains in Singapore's currency against the US dollar, to which the Hong Kong dollar is pegged, Bank of America Merrill Lynch said yesterday.
“Singapore's GDP overtook Hong Kong's in the first quarter of this year. In US dollar terms, Singapore's quarterly nominal GDP came in at US$63.9bil, exceeding Hong Kong's US$57.9bil by about 10%,” Merrill economist Chua Hak Bin wrote in a report. Reuters Link
