Economic Growth
Singapore recorded strong economic growth from 2000, with an average annual real gross domestic product (GDP) growth rate of 5.3% over 2001-2012. This growth was achieved despite the effects of the global financial crisis (GFC), which caused growth to decrease to 1.7% in 2008 and -1.0% in 2009.
The Singapore economy is highly integrated, translating to growth being sensitive to fluctuations in the global economy, as evidenced by the significantly decreased growth rates recorded in 2008 and 2009. It also means that the Singapore economy is one of the first to recover from a downturn, exemplified by GDP growth increasing rapidly in 2010 to 14.8%. Economic activity moderated to normal historical levels in 2011.
Tagged in:
Demand and Supply of Retail net lettable area
Economic growth
Global Economic Conditions
Global financial Crisis GFC
Gross Domestic Product GDP
Increase in Singapore population size
Retail development in Singapore
Retail Floor space per Capita
Retail shop occupancy rate
Singapore Consumer Price inflation rate CPI
Singapore Retail market
Singapore Tourism Board STB
Singapore Tourist Retail Spending
Tourism Market