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Singapore's GDP up by 6.5% in 3Q2021: MTI advance estimates

Felicia Tan
Felicia Tan10/14/2021 08:14 AM GMT+08  • 6 min read
Singapore's GDP up by 6.5% in 3Q2021: MTI advance estimates
The expansion was led by growth in the construction sector.
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Singapore’s GDP was up by 6.5% y-o-y in the 3Q2021, according to advance estimates by the Ministry of Trade and Industry (MTI) on Oct 14.

The advance estimates are derived largely from data in July and August.

The figure is lower than the 15.2% y-o-y growth logged in 2Q2021, which was due partly to the low base in the 2Q2020. During the period, Singapore’s GDP fell by 13.3% y-o-y due to the circuit breaker measures and a sharp fall in external demand due to the Covid-19 pandemic.

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