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Thursday, 06 May 2021 07:43 GMT

Singapore's GDP expands 0.2 pct in Jan.-Mar.


( MENAFN ) Based upon advance estimations, Singapore's gross domestic product (GDP) expanded 0.2 percent annually during the January-March period of this year, in comparison with a 2.4 percent narrowing during the fourth quarter last year, stated the country's Ministry of Trade and Industry on Wednesday.

On a seasonally-amended basis, the nation's economy expanded 2 percent quarterly, in comparison with a 3.8 percent growth in the prior quarter.

During a breakdown, the nation's manufacturing domain grew by 7.5 percent annually during the first three months, backed by production rises in the electronics, precision engineering, chemicals and biomedical manufacturing clusters.

The building domain narrowed by 20.2 percent annually, recovering from the 27.4 percent drop in the prior quarter. According to the ministry, the rebound came on the back of a recovery in public and private domain building activities during the stated period as compared to the prior quarter.


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