What is the annual economic growth of Singapore over the last five years?
The Singapore GDP growth over the last five years fell from 8.5%. Singapore’s economic growth did moderate 3-5 percent in 2005 after expanding 8.1 percent in 2004 as the United States,the worlds economic engine entered a period of slower expansion. In 2005 Singapore economic growth was 6.4% while 7.9% in 2006. In 2007 Singapore economic growth slightly slowed down to 7.5 percent In 2008 Singapore economic growth slumped to 1.5 percent percent in 2008, it is the slowest in seven years, as a severe global downturn hurt tourism and demand for the city-state’s export. Singapore 2009 economic growth is expected to be below 3%. Singapore growth rate has been below average for a long period of time.
