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Singapore's GDP reverses from contraction to grow 0.2% y-o-y in 1Q21

Atiqah Mokhtar
Atiqah Mokhtar4/14/2021 08:24 AM GMT+08  • 3 min read
Singapore's GDP reverses from contraction to grow 0.2% y-o-y in 1Q21
The growth represents a turnaround from the 2.4% y-o-y contraction recorded for 4Q20.
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Singapore’s GDP grew 0.2% y-o-y in the 1Q2021, according to advanced estimates by the Ministry of Trade and Industry (MTI) released on April 14.

This represents a turnaround from the contraction of 2.4% recorded for the 4Q2020.

On a q-o-q seasonally adjusted basis, the ministry says the economy grew by 2% following the 3.8% expansion in the 4Q2020.

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