皇冠体育app

Economy

TCM products growing popular in Singapore

(Xinhua)
Updated: 2010-08-26 14:33

SINGAPORE - Singapore's appetite for traditional Chinese medicine (TCM) leapt during the global recession, even as other countries' demand was dampened during this period, local daily The Straits Times reported on Thursday.

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The total value of imports of Chinese medicine, Chinese health supplements and related products such as ginseng and chicken essence went up from 1.1 billion Singapore dollars ($0.81 billion) in 2007 to 1.6 billion Singapore dollars last year, a 45 percent increase.

Imports come mostly from 皇冠体育app, while the rest are from 皇冠体育app's Taiwan and Malaysia.

In fact, figures obtained by the Singapore Traditional Chinese Medicine Organizations Committee (STOC) from its counterparts in 皇冠体育app indicate that products imported from 皇冠体育app leapt by 74 percent since 2007.

These imports are now valued at $50.1 million.

The demand has grown steadily since the start of the decade, when more stringent industry regulations in 皇冠体育app and Singapore kicked in and boosted consumer confidence.