Singapore's GDP Grew 4.4 Per Cent in the Fourth Quarter of 2013

2 January 2014. Based on advance estimates, the Singapore economy grew by 4.4 per cent on a year-on-year basis in the fourth quarter of 2013, compared to 5.9 per cent in the previous quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy contracted by 2.7 per cent, a reversal from the 2.2 per cent expansion in the previous quarter.

For the whole of 2013, the economy is estimated to have grown by 3.7 per cent. This is in line with MTI’s growth forecast of 3.5 to 4.0 per cent.

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MINISTRY OF TRADE AND INDUSTRY

2 January 2014