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Sub Category - Demographics |
Name |
Most Bankrupts In A Year |
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Category |
Government & Society - Demographics |
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Data Info |
The number of people made bankrupt in Singapore reached a record 2,904 in 2001 when the economy lurched into its worst recession since independence, the figure surpassing 2,874 in 1999 following the Asian financial crisis. About 200 to 350 people were made bankrupt each month from Jan to Nov 2001. Singapore’s economy contracted by 2.2 percent during the year, a reversal from a roaring 9.9 percent growth in 2000, due to a slump in the global electronics industry and the slowdown in the US economy. |
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