Singapore — Singapore's economy expanded by 4.1% in 2013, an improvement on the 1.9% the previous year, the government said today.
People walk along an elevated walkway past solar-powered 'Supertrees' at Gardens by the Bay in Singapore, on Dec 10, 2013.
The manufacturing sector grew by 1.7%, up from 0.3% in 2012, the Ministry of Trade and Industry said in a press release.
This was mostly accounted for by good performances in the transport engineering and electronics clusters.
The services sector expanded by 5.3%, up from 2% in 2012. This came mainly from the growth in financial services and wholesale and retail trade.
The construction sector grew 5.9%, down from 8.6% in 2012. The Ministry of Trade and Industry said this was due to a slowdown in both public and private building activity.
The ministry has predicted that 2014 will be a year of modest growth, with the overall forecast maintained at 2% to 4%.