Public Others Government Business Arts Community
Entertainment Lifestyle Services People Travel Internet Stuff

 

 

     FrontPage Edition: Thu 11 August 2005

Weather: Meteorological Service Singapore    High & Low Tides

Yesterday   2005     2004     2003     2002     2001     2000     1999

Performance of Singapore Economy in 2nd Quarter 2005

Source: www.mti.gov.sg

PERFORMANCE OF THE SINGAPORE ECONOMY IN SECOND QUARTER 2005 AND OUTLOOK FOR 2005
Overall Performance
Growth of the Singapore economy rose to 5.2% in 2Q05, from 2.7% in 1Q05. The growth momentum (on an annualised quarter-on-quarter basis) accelerated to 18.0%, compared to a contraction of 4.6% in 1Q05.

Sources of Growth
After growing 8.3% in 1Q05, total demand eased slightly to 7.5% in 2Q05. Growth of external demand slowed marginally to 10.8% in 2Q05, from 12.3% in the previous quarter.
While services exports continued to expand strongly, growth of merchandise exports moderated. Total domestic demand contracted by a smaller 2.0%, compared to 2.7% in 1Q05. This largely reflected a smaller decline in private investment spending as well as a reduced drawdown of inventories.
Sectoral Performance
In 2Q05, only the transport & communications sector recorded slower growth. All the other major sectors registered better growth (see Annex).

Manufacturing saw an increase of 5.9% in output during 2Q05, up from 3.4% in the first quarter. A recovery in biomedical output and stronger showing in precision engineering and transport engineering contributed to the better performance.
Electronics growth came in at 4.4% from 11.0% due to declines in the semiconductors and computer peripherals segment. Biomedical reversed a fall of 18.3% in 1Q05 to grow by 2.9%. Growth in the chemicals cluster eased to 0.7%, from 6.5% in 1Q05.

The Construction Sector fell by 0.5% in 2Q05, an improvement over the decline of 5.6% in 1Q05. Certified payments rose 1.3% in 2Q05, following a 3.1% gain in 1Q05. After registering a 57.9% jump in 1Q05, contracts awarded declined by 36.8% in 2Q05.
In the first half of 2005, the certified payments in the civil engineering and commercial segment grew, while that within institutional, residential and industrial segments contracted.

The Wholesale & Retail Trade Sector expanded by 8.3% in 2Q05, better than the 6.9% clocked in 1Q05. The increase came on the back of a 10.4% gain in non-oil re-exports for 2Q05.
Domestic trade maintained its growth in the quarter as retail sales expanded by 11.3%, after a 6.1% gain in 1Q05. Motor vehicle sales remained an important source of growth. Retail sales excluding motor vehicles grew by 6.9% in 2Q05 compared to the 5.2% clocked in the previous quarter.

Hotels & Restaurants registered a 5.3% gain in output during 2Q05, compared to 2.4% in 1Q05. On the back of strong growth in regional visitors from Vietnam, Philippines, India, Thailand and Taiwan, visitor arrivals grew by 7.9%.
Such growth supported an improvement in average hotel occupancy rate and average room rate. Similarly, cess-paying establishments also reported a 17.8% increase in revenue compared to the same quarter last year.
More.....

Source: Ministry of Trade & Industry Press Release 10 Aug 2005

Important Notice

Our FrontPage Editions are a historical record of our Web site and reflect the changing of the times, and also of our Web site through time. We do not and will not update the links and stories on these FrontPages even if they have become obsolete.

กก

If you have an event or some news to share with our readers, send the details, including picture(s), to us at editor@getformesingapore.com.

We are now 8550 pages thick and growing.

Public Holidays DEEPAVALI is the next public holiday. It falls on 1 November 2005.

กก

 

กก

กก