(MENAFN) According to data released by Singapore's Ministry of Trade and Industry, the country's economy grew 4.9 percent in the January-March period compared to a year earlier, Xinhua reported.
The ministry attributed the expansion to "a sharp rebound in the biomedical manufacturing cluster, as well as stronger growth in the chemicals and transport engineering clusters."
The manufacturing sector grew by 9.8 percent in the first quarter compared to a year ago, which was faster than the 7 percent expansion in the last quarter of 2013.
The economic growth during the first quarter of the year was lower than the governmental projections of 5.1 percent.
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