For the whole of 2021, the economy grew by 7.2%, rebounding from the 5.4% contraction in 2020. MTI had forecasted for GDP to come in at “around 7%” for 2021, based on a Nov 24 statement.
Singapore’s GDP grew 5.9% y-o-y in the 4Q2021, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Jan 3. The figure is lower than the 7.1% expansion recorded in the previous quarter.
On a q-o-q seasonally-adjusted basis, the economy expanded by 2.6% in the 4Q202, faster than the 1.2% growth in the preceding quarter.
