Singapore's August exports up strongly

The Singapore economy continues to power ahead.

Singapore's August non-oil exports up 29% on-year to S$11.5b
Singapore's key exports rose a better-than-expected 29% on year to S$11.47 billion in August, boosted by sharp gains in the shipments of pharmaceutical and petrochemical products.

A report by International Enterprises Singapore on Friday says seasonally adjusted, non-oil domestic exports expanded 4.8 percent last month from July.

Little wonder that the government has also become more optimistic about the economy.

Singapore's economy may register double-digit growth this year: Manpower Minister
Manpower Minister Ng Eng Hen says Singapore's economy is recovering and the country may even register double-digit economic growth this year.

If achieved, it would be the first time in 10 years that Singapore's economic growth is over 10 percent.

And it would make Singapore the fastest growing economy among Asia's 12 largest economies, beating even China's red-hot economy.

Singapore stocks rose today, with the Straits Times Index edging up 6.44 points to finish at 2003.56.