For the 4Q2020, the country’s GDP shrank 3.8% y-o-y, registering an improvement from the 5.6% contraction in 3Q2020.
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Singapore’s gross domestic product (GDP) contracted by 5.8% for 2020, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Jan 4.
The latest figures outperformed with MTI’s November 2020 estimates of growth contracting between 6.5% and 6%.
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