Advertisement
Singapore GDP Climbs 3.9% On Year In Q1
(RTTNews) - Singapore's gross domestic product expanded 3.9 percent on year in the first quarter of 2025, the Ministry of Trade and Industry said on Thursday.
That beat expectations for a gain of 3.8 percent after rising 5.0 percent in the three months prior.
On a seasonally adjusted quarterly basis, GDP contracted 0.6 percent - but that also beat forecasts for a decline of 0.8 percent following the 0.5 percent increase in the previous three months.
On a year-on-year basis, GDP growth in the first quarter was largely driven by the wholesale trade, manufacturing and finance & insurance sectors. In particular, growth in the manufacturing and wholesale trade sectors were likely to have been partly supported by front-loading activities ahead of anticipated US tariff hikes. By contrast, the accommodation and food & beverage services sectors contracted, with the former weighed down by the weak performance of the higher value-added hotel segments.
Upon the release of the data, the MTI maintained Singapore's GDP growth forecast for 2025 for 0 to 2 percent.
Singapore Central Bank Softens Monetary Policy
Singapore GDP Climbs 5.0% On Year In Q4
Singapore Private Sector Slips Into Contraction - S&P Global
Singapore Private Sector Slows In December - S&P Global
Singapore Private Sector PMI Eases To 53.9 In November - S&P Global
Singapore GDP Climbs 5.4% On Year In Q3
Singapore Private Sector Ebbs In October - S&P Global
