15 February 2024. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy expanded by 1.1 per cent in 2023. MTI has maintained the GDP growth forecast for 2024 at 1.0 to 3.0 per cent.

Economic Performance in Fourth Quarter 2023

The Singapore economy grew by 2.2 per cent on a year-on-year basis in the fourth quarter of 2023, accelerating from the 1.0 per cent expansion in the previous quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 1.2 per cent, slightly faster than the 1.0 per cent growth in the third quarter.

Please click here for the full press release.

Economic Survey of Singapore 2023

MINISTRY OF TRADE AND INDUSTRY
15 February 2024