Indicators
Singapore Ended 2024 With Stronger Growth as Trade War Looms
- Final GDP data surpasses preliminary government reading
- Trade ministry monitoring any tariff impacts to 2026 forecasts
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Singapore’s economy ended last year on a stronger note than initially expected, putting the government in a better position to navigate global uncertainties from US tariffs and voters’ cost of living anxieties in an election year.
Gross domestic product expanded 5% in the three months through December from the prior year, the Ministry of Trade and Industry said in its final estimate on Friday. That’s better than the government’s preliminary reading of a 4.3% increase and in line with economists’ median forecast.