Singapore's GDP up 9.1 percent in 1st quarter: estimates

Singapore's gross domestic product (GDP) is estimated to have grown by 9.1 percent in the first quarter of 2006 as compared with the same period of the previous year.

According to the advance estimates released by the Ministry of Trade and Industry (MTI) on Monday, the growth rate for the manufacturing sector in the first quarter will be at 16 percent.

The construction sector continued to contract by 0.6 percent in the first quarter, while the services producing industries are estimated to have expanded by 7.6 percent during the same period.

Singapore's GDP grew by 6.4 percent in 2005 over the previous year, and the MTI forecasted the country's economic growth rate for 2006 to be between 4 percent and 6 percent.

Source: Xinhua