Second Quarter 2021 Economic Survey of Singapore

MTI Upgrades 2021 GDP Growth Forecast to 6.0 to 7.0 percent<-원문보기 클릭

▪️ Singapore’s GDP growth forecast for 2021 has been upgraded to 6-7%, up from 4-6%. This follows from the expansion of our economy by 14.7% year-on-year in Q2 2021, faster than the 1.5% growth in the previous quarter.

▪️ The strong growth was largely due to the low base in the same period last year, when GDP fell by 13.3% as a result of the Circuit Breaker measures and the sharp fall in external demand amidst the COVID-19 pandemic.

▪️ Taking into account the GDP performance in Q1 2021, the Singapore economy expanded by 7.7% on a year-on-year basis in the first half of 2021.

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