Singapur BIP Veränderung zum Vorjahr

Singapore's economy expanded 3.8% yoy in Q1 of 2024, slowing from a 5.0% increase in Q3 and falling short of market consensus of 4.2%, flash data showed. It was the softest growth since Q2 of 2024 amid mounting external headwinds. Growth in the manufacturing sector slowed (5.0% vs 7.4% in Q3), with gains across all clusters except chemicals and general manufacturing. Also, services activity moderated (3.4% vs 4.6%), as wholesale and retail trade, communication, and finance & insurance sectors saw slower growth, while accommodation remained steady. Construction output rose slightly faster (4.6% vs 4.4%), driven by increased activity in public and private sector projects. Quarterly, the country's GDP contracted by 0.8%, reversing a 0.5% rise in Q3 and marking the first decline in two years. For 2025, the government expects the economy to grow between 0% and 2%, down from an earlier forecast of 1% to 3%. Last year, the GDP increased by 4%, much stronger than a 1.1% gain in 2023.