Singapore posts 7.2% GDP growth for 2021, but are investors drawn in?
Despite strong GDP growth, Singapore’s equities lag developed market benchmarks, and valuations remain high, but experts expect more normalisation of the economy across Asean markets in 2022.
At first glance, Singapore has beaten the odds, having surpassed gross domestic product (GDP) estimates for 2021. But not everyone was impressed by the figures.
The city-state revealed that 2021 GDP had surged 7.2%, reversing a contraction of 5.4% in 2020.
The growth also went beyond initial estimates of a 6-7% GDP increase by Singapore’s Ministry of Trade and Industry (MTI), and marks the largest recorded growth since 2010.
However, asset managers noted that Singapore equiti…
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