Singapore's economy grew by 4.4 per cent in 2024, beating previous estimates and forecasts, according to the Ministry of Trade and Industry (MTI) in a statement on Friday (Feb 14). The economy expanded by 4.4 per cent in 2024, with GDP growth forecast for 2025 at between 1 per cent and 3 per cent, said the ministry. Singapore's economy grew...
Singapore's economy grew by 4.4 per cent in 2024, beating forecasts and advance estimates.Singapore's economy grew by 4.4 per cent in 2024, beating previous estimates and forecasts, according to the Ministry of Trade and Industry in a statement on Friday .
Singapore's economy grew by 4 per cent in 2024, according to advance estimates by the ministry last month. The finance & insurance sectors also expanded by 6.8 per cent year-on-year in 2024, up from 3.1 per cent in 2023. According to the ministry, this growth was largely due to elevated trading activity and higher credit intermediation activity in banking.
MTI said it is optimistic on the manufacturing sector, which is expected to benefit from the strong global demand for semiconductor chips.
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