Skip to main content

Government officials will never ask you to transfer money or disclose bank log-in details over a phone call.

Call the 24/7 ScamShield Helpline at 1799 if you are unsure if something is a scam.

Ministry of Trade and Industry
  1. Home
  2. Newsroom
  3. Singapore’s GDP Grew by 2.9 Per Cent in the Second Quarter of 2024
1. Press releases

Singapore’s GDP Grew by 2.9 Per Cent in the Second Quarter of 2024

12 July 2024

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

12 July 2024. Based on advance estimates, the Singapore economy grew by 2.9 per cent on a year-on-year basis in the second quarter of 2024, extending the 3.0 per cent growth in the previous quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 0.4 per cent, slightly faster than the 0.3 per cent expansion in the first quarter of 2024.

Sectoral Performance

The manufacturing sector grew by 0.5 per cent year-on-year in the second quarter of 2024, a reversal from the 1.7 per cent contraction in the previous quarter. Growth in the sector was supported by output expansions across all manufacturing clusters, except for the biomedical manufacturing and precision engineering clusters. On a quarter-on-quarter seasonally-adjusted basis, the sector expanded by 0.6 per cent, a turnaround from the 5.3 per cent contraction in the first quarter.

Download the full press release [PDF, 225 KB].

MINISTRY OF TRADE AND INDUSTRY
12 July 2024

Back to top