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Singapore's trade-reliant economy slows to grow 1.3 percent in 2012

AFP
February 23, 2013, 12:01 am TWN

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SINGAPORE -- Growth in Singapore's trade-reliant economy slowed down sharply last year, expanding 1.3 percent as exports tumbled due to a global economic slump, official data showed Friday.

Although full-year growth was marginally higher than the 1.2-percent figure given by Prime Minister Lee Hsien Loong last month based on preliminary data, it still marked a steep deceleration from the 5.2 percent expansion in 2011.

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