17 February 2017. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy grew by 2.0 per cent in 2016. For 2017, MTI has maintained the GDP growth forecast at "1.0 to 3.0 per cent".

The Singapore economy grew by 2.9 per cent on a year-on-year basis in the fourth quarter, faster than the 1.2 per cent growth in the previous quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded by 12.3 per cent, a turnaround from the 0.4 per cent decline in the previous quarter.

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Economic Survey of Singapore 2016 

MINISTRY OF TRADE AND INDUSTRY
17 FEBRUARY 2017