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Advance GDP Estimates Third Quarter 2006

10 October 2006

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Advance GDP Estimates for Third Quarter 2006

Gross Domestic Product at 2000 Prices
(Percentage change over corresponding period of previous year)

Advance GDP Estimates for Third Quarter 2006


3Q05

4Q05

2005

1Q06

2Q06

3Q06*

Overall GDP

7.6

8.7

6.4

10.6

8.0

7.1

Goods Producing Industries







Manufacturing

13.1

14.2

9.3

20.1

12.2

10.0

Construction

-1.4

-0.8

-1.1

-0.8

0.3

1.0

Services Producing Industries

6.8

7.2

6.0

8.2

6.9

6.6

* Advance Estimates

  1. Advance estimates1 showed that Singapore’s real gross domestic product (GDP) rose by 7.1 per cent in the third quarter compared to the same period in 2005. On a quarter-on-quarter seasonally adjusted annualised basis, real GDP grew by 6.0 per cent, compared with a 3.4 per cent expansion in the preceding quarter.

  2. The manufacturing sector is estimated to have grown by 10.0 per cent in the third quarter. The moderation was due to slower growth in biomedical manufacturing, electronics and chemicals clusters while precision engineering and transport engineering clusters strengthened from the previous quarter.

  3. The construction sector continued to pick up in the third quarter. It is estimated to have expanded by 1.0 per cent, after registering a 0.3 per cent growth in the previous quarter.

  4. Growth of the services producing industries is estimated to have eased slightly to 6.6 per cent in the third quarter. With the exception of wholesale and retail trade, and hotel and restaurants sectors, all other services sectors registered slower growth.

  5. The preliminary GDP estimates for the third quarter of 2006, including sectoral performances, sources of growth, inflation, employment and productivity, will be released in November 2006 in the Economic Survey of Singapore.

    MINISTRY OF TRADE AND INDUSTRY
    10 October 2006

[1] The advance GDP estimates for third quarter 2006 are computed largely from the first two months’ data (i.e. July and August 2006). They are intended as an early indication of GDP growth in the quarter, and are subject to revision when more comprehensive data becomes available.

Download the Advance GDP Estimates Third Quarter 2006 [PDF, 135 KB]

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