14 February 2025. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy expanded by 4.4 per cent in 2024. MTI has maintained the GDP growth forecast for 2025 at “1.0 to 3.0 per cent”.

Economic Performance in Fourth Quarter 2024 and Full Year 2024

In the fourth quarter of 2024, the Singapore economy expanded by 5.0 per cent on a year-on-year basis, moderating from the 5.7 per cent growth in the third quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy grew by 0.5 per cent, slower than the 3.0 per cent expansion in the previous quarter.

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Economic Survey of Singapore 2024

MINISTRY OF TRADE AND INDUSTRY
14 February 2025