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Amazing, within such adverse Geopolitical situations 👍

Singapore's GDP growth in 2024 was 4%, which was higher than the 3.5% forecast by officials. This was a significant improvement from 2023's 1.1% expansion. However, some economists are cautious about the year ahead.


Here are some details about Singapore's GDP growth in 2024:

Third quarter
The economy grew 5.4% year-on-year, driven by manufacturing, wholesale trade, and finance and insurance.

Fourth quarter
The economy grew 4.3%, which was higher than market expectations. The manufacturing sector expanded 4.2%, with the electronics and transport engineering clusters as the main contributors.

Services sectors
The services sectors expanded 2.6% year-on-year, with the accommodation and arts, entertainment, and recreation sectors expanding in tandem with the recovery in international visitor arrivals.

The preliminary GDP estimates for the fourth quarter and whole of 2024 will be released in the Economic Survey of Singapore. February 2025.