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Improved Outlook for 2007 As Growth Broadens and Economy Diversifies

10 August 2007

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10 August 2007. The Ministry of Trade and Industry announced today that the economy is expected to grow by 7.0-8.0 per cent in 2007, riding on the momentum of the second quarter and supported by a favourable external environment and broad-based growth across the major sectors.

Performance in Second Quarter

Growth picked up pace in the second quarter, with GDP expanding by 8.6 per cent year-on-year following 6.4 per cent in the previous quarter. Growth on aseasonally-adjusted quarter-on-quarter annualised basis increased to 14 per cent from 8.8 per cent in the first quarter. Overall, the Singapore economy grew by 7.6per cent in the first half of 2007.

Download the full press release [PDF, 378 KB].

Economic Survey of Singapore Second Quarter 2007

MINISTRY OF TRADE AND INDUSTRY
10 August 2007

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