Private-sector economists raised their 2024 growth expectations for Singapore ’s export-driven economy amid hopes of a pickup in global demand , recovery in the electronics sector and more robust growth in China . Singapore 's gross domestic product growth for 2024 was projected at 2.4 per cent, up from an earlier prediction of 2.3 per cent, according to a quarterly survey of professional forecasters released by the Monetary Authority of Singapore (MAS) on March 13.
The Ministry of Trade and Industry’s (MTI) latest estimates showed the economy grew 1.1 per cent in 2023, down from the 2022 full-year growth of 3.8 per cent. The respondents of the MAS survey also expected the economy to grow by 2.6 per cent on a year-on-year basis in the first quarter of 2024. Seventy-one per cent of the 23 economists who responded to the survey sent out in February ranked better-than-expected global growth for 2024 as the most likely upside for Singapore’s economic outlook
Source: Financial Digest (financialdigest.net)
Singapore GDP Growth Forecast Economists Global Demand Electronics Sector China
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