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Singapore's GDP expands 1.3% y-o-y in 1Q21; MTI keeps 4-6% growth forecast for 2021

Felicia Tan
Felicia Tan5/25/2021 9:3 AM GMT+08  • 5 min read
Singapore's GDP expands 1.3% y-o-y in 1Q21; MTI keeps 4-6% growth forecast for 2021
The 1Q2021 expansion was mainly supported by the manufacturing, finance & insurance and wholesale trade sectors.
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Photo: Bloomberg

Amid the heightened uncertainties arising from the Covid-19 pandemic, the Ministry of Trade and Industry (MTI) has kept its 4-6% growth forecast for Singapore’s GDP in FY2021.

The forecast will be reviewed again in August when there is “more data” and “greater clarity” over the economic situations both within the country and around the world, says MTI in its report on May 25.

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