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GDP Growth to Moderate to Medium Term Potential

14 February 2008

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14 February 2008. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy is expected to grow by 4.0-6.0 per cent in 2008.

GDP Performance for 2007: Moderating but Above-Trend Growth

Economic growth moderated in the fourth quarter of 2007. GDP grew by 5.4 percent year-on-year, down from the 9.5 per cent increase in the previous quarter. Growth on an annualised quarter-on-quarter basis declined to -4.8 per cent, down from 5.1 per cent in the third quarter. The slowdown reflected largely a sharp decline in biomedical manufacturing rather than the impact of the slowing US economy. The fastest growing sectors were construction and financial services.

Download the full press release [PDF, 144 KB].

Economic Survey of Singapore 2007

Ministry of Trade and Industry

14 February 2008

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