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Singapore’s GDP Contracted by 3.8 Per Cent in the Fourth Quarter of 2020

Singapore’s GDP Contracted by 3.8 Per Cent in the Fourth Quarter of 2020

4 January 2021. Based on advance estimates for the fourth quarter of 2020, the Singapore economy contracted by 3.8 per cent on a year-on-year basis, an improvement from the 5.6 per cent contraction recorded in the third quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy grew by 2.1 per cent, following the 9.5 per cent expansion in the third quarter. For the whole of 2020, the Singapore economy contracted by 5.8 per cent.

Please click here for the full press release.

MINISTRY OF TRADE AND INDUSTRY
4 January 2021

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