Singapore’s gross domestic product (GDP) grew by 14.3% on a y-o-y basis in the 2Q2021, according to advanced estimates released by the Ministry of Trade and Industry (MTI) on July 14.

This follows the 1.3% GDP growth y-o-y recorded in the previous quarter. 

The strong growth was largely due to the low base in the 2Q2020 when GDP fell by 13.3% due to the Circuit Breaker (CB) measures implemented from April 7 to June1, 2020.

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