Singapore economy grows better-than-estimated 4.4% in 2024 but 2025 forecast kept to 1-3%

News Snapshot:

SINGAPORE - Singapore’s economy expanded at a faster pace of 4.4 per cent in 2024 compared to an earlier estimate of 4 per cent, said the Ministry of Trade and Industry (MTI) on Feb 14. This came as the economy grew 5 per cent year on year in the fourth quarter of 2024, higher than the initial estimate of 4.3 per cent. However, MTI kept unchanged its slower growth forecast for 2025 at the 1 per cent to 3 per cent range, flagging downside risk from a further escalation of geopolitical conflicts and higher uncertainty over US trade policies under...