2013 GDP Growth Forecast Upgraded to 2.5 to 3.5 Per Cent

12 August 2013. The Ministry of Trade and Industry (MTI) announced today that it has upgraded the GDP growth forecast for 2013 from 1.0 to 3.0 per cent, to 2.5 to 3.5 per cent.

Performance in Second Quarter of 2013

The Singapore economy grew by 3.8 per cent on a year-on-year basis in the second quarter of 2013, compared to 0.2 per cent in the previous quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy grew by 15.5 per cent, significantly higher than the 1.7 per cent expansion in the previous quarter. The acceleration in the quarter-on-quarter growth momentum was mainly due to robust growth in the manufacturing, wholesale & retail trade, transportation & storage, and finance & insurance sectors.

Download the full press release [PDF, 78 KB].

Economic Survey of Singapore Second Quarter 2013

MINISTRY OF TRADE AND INDUSTRY

12 August 2013