2 January 2024. Based on advance estimates, the Singapore economy grew by 2.8 per cent on a year-on-year basis in the fourth quarter of 2023, faster than the 1.0 per cent growth in the previous quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 1.7 per cent, extending the 1.3 per cent expansion in the third quarter. For the whole of 2023, the economy grew by 1.2 per cent, moderating from the 3.6 per cent growth in 2022.

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MINISTRY OF TRADE AND INDUSTRY
2 January 2024