BBC Learning English

Words in the News

16th July 2010
Singapore reports economic growth

Singapore looks set to become the world's fastest growing economy this year, with
government estimates showing that output grew at a record annual rate of almost 20% in the
three months to June. Pauline Mason reports from Singapore.

Much of Singapore's growth has been fuelled by investment and tourism from overseas.

It has positioned itself as a high-end manufacturer. It makes complex nanotechnology,

pharmaceuticals and biotech products like flu vaccines.

Exports of electronics alone were up 49% in June.

And visitors from wealthy neighbours China and Indonesia have flocked to its two new
casino resorts, which opened in April.

But Singapore's main trading partner remains the European Union. And, despite austerity
measures imposed by EU governments, exports to the bloc surged 75% in June.

That prompted Singapore's government to raise its annual growth forecast to a record high of
between 13 and 15% for the year.

Pauline Mason, BBC News, Singapore

Words in the News © British Broadcasting Corporation 2010

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Vocabulary and definitions

fuelled increased

a high end manufacturer a producer of sophisticated and expensive goods

nanotechnology engineering on a very small scale

biotech products industrial items made of living things such as bacteria,

yeasts or biological substances

vaccines medical preparations that prevent diseases

flocked gone in large numbers

casino resorts holiday destinations for gambling

austerity measures steps to reduce spending

the bloc the group of countries

surged increased suddenly

More on this story: http://www.bbc.co.uk/news/10339713

Read and listen to the story and the vocabulary online:
http://www.bbc.co.uk/worldservice/learningenglish/language/wordsinthenews/2010/07/100716_witn_singapore.shtml

Words in the News © British Broadcasting Corporation 2009

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