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Singapore Economy 2000
The Singapore economy was vibrant in 2000,
bolstered by the continued expansion of the
manufacturing, wholesale and retail, hotels
and restaurants, transport and
communications, and business services
sectors. The manufacturing sector chalked
up an impressive growth of 15.2%, propelled
by the vigorous expansion in the electronics
industry. Bolstered by strong entrepot trade,
visitor arrivals and consumer demand, the
wholesale and retail sector doubled its growth
in 1999 to record a 15.2% expansion in
2000. A record 7,691,090 visitor arrivals and
higher domestic purchasing power supported
the hotels and restaurants sector which
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grew by 8.2%. In the transport and
communications sector, buoyant growth
of 9% was registered in tandem with the
improvement in regional trade and travel
activities, and the liberalisation of the
telecommunications industry.
The financial services sector turned around
with a healthy growth of 4.1%. The rebound
was mainly derived from the increase in
loans, and debt and equity issuance. On the
other hand, the construction sector remained
on a decline, but appeared to be bottoming
out. Decline in the sector moderated to
4.6% on the back of higher volumes of
non-residential construction activities and
civil engineering works.
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