Singapur BIP Veränderung zum Vorjahr

Singapore’s economy expanded by 2.9% year-on-year in the second quarter of 2024 following a 3% growth in the first quarter, a final reading showed. The city-state also revised its 2024 GDP forecasts to 2% to 3% from a previous estimate of 1% to 3%. GDP growth in the second quarter was primarily driven by the wholesale trade, finance & insurance, and information & communications sectors. By contrast, the manufacturing sector shrank, largely due to a contraction in the biomedical manufacturing cluster caused by a sharp fall in pharmaceuticals output. The electronics cluster returned to growth, supported by strong demand for smartphone, PC and AI-related chips even as demand for automotive and industrial chips remained weak. Meanwhile, consumer-facing sectors such as the retail trade and food & beverage services sectors shrank, partly due to an increase in outbound travel by locals.