1. Press releases
Advance GDP Estimates for Third Quarter 2007
10 October 2007
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10 October 2007. The Singapore economy continued to register strong growth in the third quarter of 2007. Advance estimates1 show that real gross domestic product (GDP) rose by 9.4 per cent on a year-on-year basis in third quarter, up from 8.7 per cent in the previous quarter, indicating that the economy is well on track to meet the 7-8 per cent growth forecast by MTI in August 2007 for the year as a whole. On a quarter-on-quarter seasonally adjusted annualised basis, real GDP growth decelerated to 6.4 per cent from 14.4 per cent a quarter earlier.
Underpinned by strong growth in the biomedical manufacturing and transport engineering clusters, the manufacturing sector is estimated to have grown by 12.3 per cent in the third quarter, up from 8.3 per cent in the previous quarter.
The construction sector is estimated to have grown by a robust 15.5 per cent compared with 18.8 per cent in the second quarter.
Download the full press release [PDF, 30 KB].
MINISTRY OF TRADE AND INDUSTRY
10 October 2007