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Singapore’s GDP Grew by 0.2 Per Cent in the First Quarter of 2021

14 April 2021

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14 April 2021. Based on advance estimates, the Singapore economy grew by 0.2 per cent on a year-on-year basis in the first quarter of 2021, a turnaround from the 2.4 per cent contraction recorded in the previous quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 2.0 per cent, extending the 3.8 per cent expansion in the preceding quarter. 

Sectoral Performance

The manufacturing sector grew by 7.5 per cent on a year-on-year basis in the first quarter, following the 10.3 per cent expansion registered in the previous quarter. Growth of the sector was supported by output expansions in the electronics, precision engineering, chemicals and biomedical manufacturing clusters, which outweighed output declines in the transport engineering and general manufacturing clusters. On a quarter-on-quarter seasonally-adjusted basis, the manufacturing sector expanded by 7.6 per cent, a reversal from the 1.4 per cent contraction recorded in the fourth quarter of 2020.

Download the full press release [PDF, 147 KB].

MINISTRY OF TRADE AND INDUSTRY
14 April 2021

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