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NEW UPDATES Asean Affairs  21 February 2014  

Singapore's growth forecast to remain at 2-4%

Singapore: The growth forecast for Singapore will remain at 2-4 per cent in 2014, with the economy growing by 4.1 per cent in 2013, the Ministry of Trade and Industry (MTI) announced Thursday.

It said that on a year-on-year basis, the Singapore economy grew by 5.5 per cent in the fourth quarter of 2013, easing slightly from the 5.8 per cent growth in the preceding quarter.

On a quarter-on-quarter seasonally-adjusted annualised basis, the economy grew by 6.1 per cent, significantly higher than the 0.3 per cent growth in the previous quarter.

MTI said that for the whole of 2013, the Singapore economy expanded by 4.1 per cent, higher than the 1.9 per cent growth in 2012.

Looking ahead, it said the Singapore economy is expected to post modest growth in 2014 with externally-oriented sectors such as manufacturing and wholesale trade likely to continue to recover and provide support to growth,together with the recovery in global demand.

However, it cautioned that tight labour conditions could weigh on growth in some labour-intensive domestically-oriented sectors.

The forecast which comes ahead of Singapore's Budget Day on Friday was better than the earlier forecast for growth of 3.5 to 4 per cent.

The better than expected outcome was due to strong growth in the manufacturing sector.

The star performer in Q4, the manufacturing sector grew by 7 per cent on a year-on-year basis, extending the 5.3 per cent growth seen in the previous quarter.

Growth was supported by improvements in the electronics cluster and continued expansion of the transport engineering cluster.

Growth also seen in the wholesale and retail trade sector.

It expanded by 7.3 per cent in Q4, extending the 6.3 per cent growth in the previous quarter.

The finance and insurance sector grew by a robust 9.7 per cent, following the 10 per cent growth in the previous quarter.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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