Ministry of Trade in Industry said the 14.5 percent growth in the economy last year was also attributed to the increase in electronics and biomedical manufacturing output, as well as strong output from the construction sector, albeit at a lower pace, which stood at 6.1 percent from 17.1 percent in the previous year.
The service producing industries also contributed to the economic growth, increasing 10.5 percent in 2010 from a 0.7 percent contraction in 2009. This was largely attributed to a widely based expansion in the sector, particularly in the wholesale and retail trade, which grew 15.1 percent in 2010.
The financial sector, on the other hand, posted a robust growth of 12.2 percent, attributed mainly to the increased activities for commercial bank lending and fund management.
Info courtesy - PropertyGuru.com.sg
