Singapore's 2021 GDP grows at fastest pace in over a decade

Storm clouds gather over the skyline of the central business district in Singapore April 5, 2021. Picture taken April 5, 2021. REUTERS/Edgar Su

SINGAPORE, Jan 3 (Reuters) – Singapore’s economy expanded at its fastest annual pace in over a decade in 2021 as the country emerged from its worst recession on record, caused by the deep hit to activity from the coronavirus pandemic.

The city-state’s economy grew 7.2% in 2021, preliminary data showed on Monday, broadly in line with the government’s official projection and rebounding from the record 5.4% contraction in 2020.

The financial and transport hub, often seen as a bellwether of global growth, has staged a rocky recovery as governments around the world shift their coronavirus strategies to living with the pandemic, away from “zero-COVID” policies.

Singapore’s annual…