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Panama leads Singapore growth in exports

Tuesday, August 28, 2012

Panama has emerged as Singapore's fastest-growing export market in the five years ended 2011, with a compounded annual growth rate of 19.9 percent.

This is mainly due to shipments of oil-related and pharmaceutical products. In value terms, exports to Panama increased to $14.3 billion in 2011 from $5.8 billion in 2007.

Part of this growth can be attributed to the free trade agreement signed in March 2006.

Source: AsiaOne Business