Singapore's GDP grows 0.2% in Q1 2021, MTI advance estimates

SINGAPORE:The Singapore economy grew by 0.2 per cent on a year-on-year basis in the first quarter of 2021, a turnaround from the 2.4 per cent contraction in the previous quarter.

On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 2.0 per cent, extending the 3.8 per cent expansion in the preceding quarter, according to advance estimates by the republic’s Ministry of Trade and Industry (MTI) today.