At 7.2%, Singapore's 2021 GDP grows at fastest pace in over a decade

 The city-state's economy grew 7.2% in 2021, preliminary data showed on Monday, broadly in line with the government's official projection and rebounding from the record 5.4% contraction in 2020

Singapore's economy expanded at its fastest annual pace in over a decade in 2021 as the country emerged from its worst recession on record, caused by the deep hit to activity from the coronavirus pandemic.
The city-state's economy grew 7.2% in 2021, preliminary data showed on Monday, broadly in line with the government's official projection and rebounding from the record 5.4% contraction in 2020.
The financial and transport hub, often seen as a bellwether of global growth, has staged a rocky recovery as governments around the world shift their coronavirus strategies to living with the pandemic, away from "zero-COVID" policies.

Singapore's annual gross domestic product growth was the fastest since a 14.5% expansion in 2010 when the economy emerged from the global financial crisis.
"I'm expecting growth to be relatively buoyant. As the world economy starts to improve, I think that will also help to support the overall external demand conditions for Singapore," said MUFG analyst Jeff Ng. "The main threat continues to be inflation."

The government has previously said it expects GDP to grow 3% to 5% in 2022.
GDP rose 5.9% in October-December on a year-on-year basis, the Ministry of Trade and Industry said in a statement, faster than the 5.4% growth forecast in a Reuters poll on analysts.