According to the preliminary statistics provided by Turkey's Steel Exporters' Association, in January this year, Turkish steel exports to Singapore saw substantial growth amounting to 59,077 tonnes compared to just 1,332 tonnes recorded in January 2011.

The data show that Turkey's total steel exports to Singapore in the whole of 2011 amounted to 616,718 tonnes up 67.8% YoY ranking eighth among Turkey's largest steel export destinations.

In the first month of 2012, Turkey's steel rebar exports to Singapore which has a growing construction sector indicated a massive surge amounting to 45,240 tonnes compared to 183 tonnes recorded in the same month last year. Turkey's steel rebar exports to the country in 2011 amounted to 534,826 tonnes up 130% compared to 2010.

Singapore's Building and Construction Authority is providing financial support to enable the country's construction sector become highly integrated and technologically advanced as well as highly productive.

According to a report released by the authority, Singapore's construction demand increased by 16% YoY in 2011 to USD 32 billion up from USD 27.6 billion in 2010. The increase was backed by strong public sector construction demand arising from the ramp up in public housing projects.

For 2012, the total construction demand in Singapore is projected to be between USD 21 billion and USD 27 billion of which about 60% is expected to come from the public sector including construction demand for institutional buildings and civil engineering projects.

(Sourced from Steel Orbis)
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