Economy grows 4.1% YoY in Q3 as manufacturing, services expand

It grew at a faster rate compared to the previous quarter.

Singapore’s gross domestic product (GDP) grew faster in Q3 2024, increasing 4.1% YoY, advance estimates from the Ministry of Trade and Industry (MTI) showed.

In Q2 2024, the GDP grew by 2.9% YoY.

On a quarter-on-quarter basis, GDP expanded by 2.1%, also faster than the 0.4% growth in the preceding quarter.

The goods-producing industries saw expansions, with manufacturing posting a 7.5% YoY growth and construction recording a 3.1% YoY increase.

All services-producing industries also recorded year-on-year expansions, led by "information & communications, finance & insurance and professional services" (+4.3% YoY) and followed by “wholesale & retail trade and transportation & storage" (+3.5% YoY), and "accommodation & food services, real estate, administrative & support services" (+1.0% YoY).

Follow the link s for more news on

MAS

Ministry of Trade and Industry

Also Read

Mixed views on MAS policy for 1H25 as Singapore faces inflation and growth risks

S’pore and South Korea to elevate bilateral relationship to strategic partnership by 2025

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Institution of Engineers sets up new board to promote faster chartership registration

The board will also promote upskilling for engineering professionals.

Building & Engineering

Changi Airport Group boosts logistics capacity with new Nexus One facility

It will house two tenants including Expeditors.

Transport & Logistics

MoM underscores tripartite efforts to safeguard workers following Dyson layoffs

The ministry urges companies to work with unions.

HR & Education

Exclusives

Lorem Ipsum Singapore Business Review

The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.

19 hours ago

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Lorem Ipsum 2