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Singapore's GDP Grows 2.7% YoY in 1Q24

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Singapore,GDP,Growth

Singapore's gross domestic product (GDP) grew faster in the first quarter of 2024, increasing by 2.7% year-on-year, according to advance estimates from the Ministry of Trade and Industry (MTI). The goods-producing and services-producing industries both saw expansions, contributing to the overall growth.

Singapore’s gross domestic product grew faster in 1Q24, increasing 2.7% YoY, advance estimates from the Ministry of Trade and Industry showed. In 4Q23, the GDP grew by 2.2% YoY.

The goods-producing industries both saw expansions, with manufacturing posting a 0.8% YoY growth and construction recording a 4.3% YoY growth.

 

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