For the whole of 2021, the economy grew by 7.2 per cent, rebounding from the 5.4 percent contraction in 2020.
Singapore's economy grew by 5.9 percent in the fourth quarter (Q4) on a year-on-year (YoY) basis, following 7.1 percent growth from the previous quarter, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Monday.
On a quarter-on-quarter basis, the economy expanded by 2.6 percent in Q4 2021, higher than the 1.2 percent growth from the previous quarter, MTI said.
Stock Market Recovery
Local bourse Singapore Exchange (SGX) also bounced back with the expansion of the economy. Price gain for the Straits Times Index (STI) stood at 9.8 percent in 2021, with an overall finish at 3,123.68, with reinvested dividends, boosting this to its final value of 13.6 percent for the year.
Leaders were Yangzijiang Shipbuilding, DBS Group Holdings, and Hongkong Land, which brought total returns of 44.6 percent, 34.8 percent and 34.6 percent, respectively.
