Singapore’s GDP Expands 5.1 % YoY in Q3


Based on advanced estimates, the Singaporean GDP grew by 5.1 percent year-on-year in the third quarter of 2013, compared to 4.2 percent in the previous quarter. It is the highest expansion in two years, mainly supported by the finance and insurance and wholesale and retail trade sectors.

On a year-on-year basis, the manufacturing sector grew by 4.5 percent, higher than the 1.3 percent growth in the preceding quarter, mainly supported by the transport engineering and electronics sectors.

The construction sector grew by 3.6 percent, slowing from the 6.9 percent growth in the previous quarter. The slowdown was mainly due to weaker public sector construction activities, which partially offset robust construction activities in the private sector.

The services producing industries grew by 5.7 percent, largely similar to the 5.6 percent growth in the preceding quarter, mainly supported by healthy expansion in the finance and insurance and wholesale and retail trade sectors. 

Quarter-on-quarter, the economy contracted by a seasonally adjusted and annualized 1 percent, compared to the 16.9 percent expansion in the previous quarter.

Singapore’s GDP Expands 5.1 % YoY in Q3


Ministry of Trade and Industry | Joana Taborda | joana.taborda@tradingeconomics.com
10/14/2013 9:42:04 AM