Economy grows at a faster pace in 1Q24: advance estimates

It grew 2.7% YoY from 2.2% YoY in 4Q23.

Singapore’s gross domestic product (GDP) grew faster in 1Q24, increasing 2.7% YoY, advance estimates from the Ministry of Trade and Industry (MTI) showed. In 4Q23, the GDP grew by 2.2% YoY.

On a quarter-on-quarter basis, GDP expanded by 0.1%, extending the 1.2% growth in the preceding quarter.

The goods-producing industries both saw expansions, with manufacturing posting a 0.8% YoY growth and construction recording a 4.3% YoY growth.

All services-producing industries also recorded year-on-year expansions, led by "information & communications, finance & insurance and professional services" (+4.2% YoY) and followed by "accommodation & food services, real estate, administrative & support services" (+2.9% YoY) and “wholesale & retail trade and transportation & storage" (+2.7% YoY)

Follow the link for more news on

Ministry of Trade and Industry

Singapore GDP

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia